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Marketing in a Recession BUSM 600 Shawneese Drake

Marketing in a Recession BUSM 600 Shawneese Drake. American Express:. http://www.youtube.com/watch?v=pSkA91_nURo&feature=player_embedded#t=20. This ad recognizes the present economic climate and addresses it effectively. Highlights from the commercial.

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Marketing in a Recession BUSM 600 Shawneese Drake

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  1. Marketing in a RecessionBUSM 600Shawneese Drake

  2. American Express: • http://www.youtube.com/watch?v=pSkA91_nURo&feature=player_embedded#t=20 This ad recognizes the present economic climate and addresses it effectively

  3. Highlights from the commercial • During times like these it seems like the world will never be the same (Directly recognizing the recession) • Directed towards small businesses in a recession • A lot of bus. Are having a difficult time right now • There is a light beginning to shine again • According to “How to market in a downturn” by Quelch and Jocz purchases depend on consumers feeling confident about the future. • Starts out kind of negative – positive • Shows the recession improving

  4. Commercial • Entrepreneurs are the most power force in the economy. They Drive Change! • As we look to the future they’ll be there ahead of us, lights on, showing us the way forward. This is just the beginning of the reinvention of business. • (purchases also depend on trusting in the business and the economy) • We want to help! (reassurance) • A community to help grow your business • Community is a great word to use in a time of turmoil • Bringing people together in hard times (trust issue)

  5. HOW TO MARKET IN A DOWNTURN • Reassuring messages that reinforce an emotional connection with the brand and demonstrates empathy are vital. • American Express does this by conveying a sense that - we are going to get through this together • Empathetic messages must be backed up by actions • “Card issuers should alert people when they are close to going over their limits” – American Express actually does this! • Companies should engage customers in brand activities that convey caring. • American Express invited card members to vote on which charity the company would support

  6. Other articles • In Understanding the Post Recession Consumer, the author stresses the need for simplicity in advertisements. For small bus. I believe this commercial was simple and to the point. • Holding a Mirror up to Marketing addresses that marketing/ads should include: • As many people as possible; consumers and citizens actively engage in the process (which is Am. Express’s whole message) • A desired outcome is improved well-being for the individuals and society • Marketing your way through a Recession list factors that companies should consider when making their marketing plans for 2009 – 2010 • Research the customer (they definitely knew their target market – small bus. owners) • Focus on family values (the point of the people in the commercial)

  7. My Opinion • “Although it’s wise to contain costs, failing to support brands or examine core customers changing needs can jeopardize performance. Companies must understand customers shifting needs and then adjust their communications.” (How to market in a downturn) • A study by PIMS Associates, the consulting arm of the strategic planning institute found: firms that increase their marketing during a recession grow significantly faster than firms that maintain or decrease their marketing. They also increased their ROI and gained market share three times faster in the times following the recession. • I believe American Express is addressing these issues correctly by marketing in this recession.

  8. Questions?The End

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