Tuesday, July 21, 2009

AD theme in recession...

US and probably most countries in the world is going through a tremendous change during these recession times, what used to be unique product based positioning & marketing... is moving towards advertising on "price" - price based competition is the one of the first consideration for advertisements, below are some examples of TV Ads...

  • Subway - $5.00 footlong sandwitches
  • Hyundai - Offering $1.49 /gallon gas for the entire year
  • KFC - $5.00 for chicken, side & drink
  • GM is becoming "green" from the traditional blue.. to give a new message
  • Chillis - $20.00 3 course menu for two people
  • Walmart - continues to give the message of everyday low prices

and every street has at least one store in NY, has one of the following boards...
  • going out of business
  • everything is 80% off
  • buy 1 get 1 free
How does the world of advertising change in these recession times?
First thing that happens in time of recession for advertising is cut in budgets & change of positioning & message for the product to something more valuable, less price, better over the competition etc,

How do you innovate in advertising your product?
It should be back to basics...

a. re-think the competition for the product, as because of new macro-economic conditions the marketplace might have changed, could be competing with a #6 company in the market

b. understand the new value of your product in the recession, new economic conditions might mean different to your consumers...

c. change your advertising strategy, start with a clean slate in the communicating the message to the consumers

the list can keep going to innovate, position and marketing of the product.

-Bhaskara

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