Branding During Tough Times
Tags :
brand recession, economic recession, branding, brand
Industry :
Advertising/PR/MR/Events
Functional Area : Branding |
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About "Branding During Tough Times" topic:
Many businesses chop the marketing and advertising budgets when times are tough. Experts believe bringing your brand closer to the public through advertising, particularly in times of crisis, helps to protect your business from the economic downturn. Let us discuss on how to handle Branding during tough times....
4 insight
, 5 debates
, 4 idea contests
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on topic: "Branding During Tough Times"
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Research conducted by MORI, amongst 187 senior board directors of the UK's leading companies, concluded that '94% agree that the asset which offers the greatest protection during an economic downturn is a strong brand'. There are three reasons for this: Confidence - Loyal customers retain confidence in a strong brand even when the going gets tough. Confident customers are less likely to switch brand. Risk - potential customers, staff and shareholders are more risk averse during a recession. Strong brand mitigates risk in the mind of the stakeholder. Value - Company value is more likely to remain buoyant in an economic downturn when it is supported by a strong and profitable brand. Don’t be ...
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Mittal Shah
| Commented
| 2 years ago
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When we are talking about branding during tough time. One thing we should keep in our mind is to implement our commitment. Because in todays trend every real estate organisation has to prove themself as why they are the best as compare to others....
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James Masih
| Commented
| 3 years ago
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Syed, I have understood your point and i also strongly believe that in times of recession,one should not cut down his investment in the brand.The brand must remain visible to the customers. If the customers become oblivious to the brand, then they...
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Syed Muddasar Moin
| Commented
| 3 years ago
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I strongly agree with this informaton becuase when we are speaking about the slowdown and at the same time speculating the growth rate and keeping our finger cross to see the market regaining its charm then we are speaking only because we are in...
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Insight: "3 Reasons not to cut investment in Brand during a recession" deleted from your view.
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Yes
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5
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18
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No
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Makrand Bhave
| Argues in support of
"No"
| 3 years ago
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Excellent!! Brand and its visibility are very important particularly during times when economy is on a downslide!! It has to be handled with 'kids gloves'. Offers, market thrust and generally making it 'available' would mean a very healthy...
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Mihir Jhaveri, PMP, CSCM
| Argues in support of
"Yes"
| 3 years ago
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The value of brands diminishes during times of recession. People tend to be more focused and interested in value, properties, features and benefits of a product, meaning that buying decisions are more driven by logic than impulse or feeling....
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Jitena Kumar Rawat
| Argues in support of
"No"
| 3 years ago
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Excellent debate my friend !!! I would feel that branding is more important than ever. What good is hard selling when your product is no longer recognizable? In uncertain times, people are looking for a "steady" image - strong companies need to...
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Debate: "Is Branding Out During Recession?" deleted from your view.
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1
Empathy and Authenticity
2
Customer Focus, Past performance, Cutting Advertisement Costs
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AMISH
| Added idea
"Promote the ROI point of view"
| 11 months ago
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During recession it is important to understand that the people are trying to cut down on costs and unfrilled, non-fancy, but things that give you more return on the rupee you pay. So drive home this point, you need to project your products such...
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Mittal Shah
| Added idea
"Mittal Shah, Sr. Manager, Infratech Real Estate Pvt. Ltd., Nagpur"
| 2 years ago
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Be customer focused, Improve your service, analyse need of the customer and be honest.
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Ideate: "How to Leverage Brand Value during a Recession" deleted from your view.
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Dear all, Some important steps for brand management during recession... Companies should take a good long critical look at their portfolio. Determine what is excess or even damaging to stronger brands and banish it. Use resources to shore up stronger brands. In times like these, we will see customers we don't normally see. People who don't normally shop may come and we want everyone to return. Be passionate about your consumers. Brand owners should provide a strong differentiation from other brands and deliver 100% on its brand promise. Slash prices to a minimal but don't compromise on quality. Consumers may make due for now, but will inevitably trade up the minute they're able. Give brand ...
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Suhel Khan
| Commented
| 3 years ago
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Its the best times for organizations to lay a firm and strong foundation for there brand.I agree with your Sudeep, its actually a good time to make promises, reduce rates, maintain quality and reap the benefits in normal times.
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Suman Sharma
| Commented
| 3 years ago
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I think first of all, the company should trust & confidential to itself, as a brand has so many other competitor brands in the market.Only then they can make the customers trustworthy & loyal even in the tough times which is required to go with...
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Insight: "Things to do: Brand Management during recession" deleted from your view.
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We do not think, we only look for available solutions.
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1
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0
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We do think and itis always there on every act.
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Sandeep Gupta
| Argues in support of
"We do not think, we only look for available solutions."
| 2 years ago
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We do not think since we are living in a open world and have enough understanding of the multiple issues and solutions we use soe of them with our experience. But we do not think the concept as new, the process of thinking do not start if we...
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Debate: "Think a simple word but difficult to prectice." deleted from your view.
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What route would you advise brands to take to keep them in the eyes of the consumer and 'buy me now' attitude?
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Sasi Dash
| Answered
| 3 years ago
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It is tried and tested method, the traditional one is the best , even in the recession times,as still more number of poeple are into print, electronic and public campaigns which comprise of traditional media, it still works even during recession.....
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Makrand Bhave
| Answered
| 3 years ago
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I guess so too. This is not exactly the time to experiment and be dashing and different is it?? Thanks Sasi :)
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Answer: "In these times of impending recession, would you use traditional or non traditional media for your brnad?" deleted from your view.
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1
Forego of Market Activity
2
Target Customer
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AMISH
| Added idea
"Right projection of idea for Promotion of Brand"
| 11 months ago
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In view of the economic depression, products that have value are sought after most. So here the brand promotion comes into play, projecting the product or the brand as most value adding one and giving you the most effective return on your...
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Snehashis Basu
| Supported idea
"economic & effective ways to promote the brand ,"
| 2 years ago
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I fully agree with the idea as promotion is most important in case of branding and maintain the market presence. In present context of receission promotion should not be only effective but at the same time it should be economical.
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solomon prabakar
| Supported idea
"Forego of Market Activity"
| 3 years ago
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The mandra for brand management during recessionare: generate trial, increase usage, look for newer opportunities and increase market coverage all these things should be done without increasing the existing resources
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Ideate: "Brand Management in Recession" deleted from your view.
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Yes
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10
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4
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No
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Makrand Bhave
| Argues in support of
"No"
| 2 years ago
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Interesting debate indeed!! Luxury is NICHE and that remains its positioning till the brand or the earth dies its natural death!! So for me a luxury brand may find itself moving slowly off the shelf but with the price point it is at and the...
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santosh kumar
| Argues in support of
"Yes"
| 2 years ago
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The luxury brands command vey high premium or margin, does not get much affected by recession grows with time ( albeit at very low rate) but the segment being very low ( in numbers) the overall gain is still very minuscule.
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Jaygopal Raghavan
| Argues in support of
"Yes"
| 3 years ago
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Yes, they can but one will have to relook at their margins and costs. They will not be able to survive at the premium rates that they are used to. They will gain a lot of loyal customers if their rates are brought down to earth by way of new...
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Debate: "Can luxury brands outclass a struggling global economy? " deleted from your view.
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(rate this)
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1
Nervous Advertising
2
Clients Analyse more carefully where to invest
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Akhilesh S Joshi
| Added idea
"Advertising industry never faces 'RECESSION'"
| 2 years ago
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They advertise for 'NEW ARRIVALS', they advertise for 'HAPPY BIRTHDAY', they advertise for 'PASSED EXAMS', they advertise for 'APPOINTMENTS', they advertise for 'SEEKS APPOINTMENT', they advertise for 'PROMOTION', they advertise for...
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K Satish Kumar
| Supported idea
"Clients Analyse more carefully where to invest"
| 3 years ago
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The word ROI is key for every spending. Choice of communication medium is very important in this bad time. Spendings will happen but, they are bound to go through various filters. The basic questions What, When, How will haunt the clients.
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K Satish Kumar
| Supported idea
"Clients Analyse more carefully where to invest"
| 3 years ago
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The word ROI is key for every spending. Choice of communication medium is very important in this bad time. Spending s will happen but, they are bound to go through various filters. The basic questions What, When, How will haunt clients.
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Ideate: "Recession : What now for Advertisement?" deleted from your view.
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(rate this)
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Yes
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5
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2
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No
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Makrand Bhave
| Argues in support of
"Yes"
| 3 years ago
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It is more of a collective thought that can actually answer this question. Individualistic based views will only be macroscopic in nature. When we think from our neighbors pov, then the truth hits us strongly. I might have resentment against a...
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Chanakant Chougule
| Argues in support of
"No"
| 3 years ago
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Some organizations will be remembered favorably, even after filing for chapter 11.It all depends on the circumstances, they may be viewed as victims of the current economy, not of bad management.Others, like GM, will not be excused.They have...
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Debate: "Can bailed-out brands recover from the stigma of bankruptcy and begging?" deleted from your view.
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