04.02.08
Vilmar
To brand or not to brand?
In the wake of the sub-prime crisis, waning consumers confidence, and a sluggish global economy, the idea of a recession will impact the branding industry in two ways:
Brand Up
Companies will rally resources around their branding efforts and capitalize on their identity and relationship with consumers. Maximising and leveraging brand equity is the sensible reaction to a slowing economy where branding is, now more than ever, essential to survival.
Brand Down
Companies will allocate fewer resources to their branding efforts. Fiscal responsibility and protecting employees jobs will require directing money and personnel to efforts that directly bolster revenue streams. Branding will take a back seat to more tangible economic endeavours.
What’s your guess?
05.02.08
Matt
I think there will be a mix of both branding-up and down. Predatory businesses (bailiffs for example) will brand-up, whilst the companies selling luxury, non-essential services will probably brand-down as they struggle. Having said that, I’ve never seen a bailiff advertisement (although I’m sure it would be interesting).
But, hey, lets hope it doesn’t come to that. I know one thing for certain. If it means the end of TV ads for consolidation loans, I’ll be happy. “Tom! Dad’s found ya scooter!”