Leverage Marketing Research During the Recession

We found a great piece in the the Harvard Business Review by the ever-brilliant John Quelch, and knew that it was worthy of reprint here on Synergyblog.

Dr. Quelch outlines seven steps for CMOs to take during the recession to mitigate the reduction in consumer spending.

It’s a great article, and as marketing research practitioners, we at Synergy Marketing Strategy & Research, Inc. are pleased to see an increase in spending with some of our clients.

We believe companies who listen well to consumers, employees, and stakeholders, execute often on fulfilling their brand promise, and continue to produce excellent goods and services without compromise of quality and value will exceed during this recession.  Enjoy. Thrive. Trust and be Trusted!

Recession-challenged consumers are buying less, looking for deals, or switching to different brands, product categories, or stores. Some are even changing long-held attitudes toward consumption. To many folks, filling the home with more stuff or keeping up with the Joneses is no longer appealing.

As a result, the degree of uncertainty in business and consumer markets has soared. Yet, to conserve cash, most firms are reducing spending on the market research that would help manage that uncertainty. In the U.S., spending on market research has dipped for four consecutive quarters, and chief marketing officers don’t expect the situation to turn around soon. Most big consumer marketers are seeking to shave 10 to 20% off of research budgets.

In flush times, a rising tide of consumption can compensate for less than optimal branding, positioning, pricing, or segmentation. That is certainly not the case now. At the same time that marketers must pare down research expenditures, they face added pressure to secure high-quality data and insights.

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Building a Trusted Brand: Keynote to an International Nonprofit

Synergy Marketing Strategy & Research, Inc. CEO Rachel Daniel delivered a keynote address at the OIC International Conference of Affiliates on Feb. 24, 2009. Daniel addressed board chairs and program directors from sub-Saharan African countries, along with OIC International board and staff, international diplomats, and U.S. dignitaries. Executives from U.S. business, civic, educational, and governmental organizations were also on hand.

The speech was designed to outline an innovative strategy for success in building a strong OIC International brand in challenging economic times. Daniel made brand trust a focal point for OIC International growth over the next 40 years, building on the organization’s success in providing individuals in underserved countries with the education, skills and confidence they need to help themselves, their households, and their communities.

“What is most important for our organization,” says Dr. Christiana Thorpe, the Chief Electoral Commissioner of Sierra Leone, “Is that we make the commitment to our brand. We are excited to go back to our country and implement change.”

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In Dramatic Shift, Blackwater Sheds Name to Transform Brand

Blackwater Worldwide, known for the unfortunate 2007 Nisoor shootings which left tens of Iraquis dead, have embarked upon a re-branding effort to begin reputation repair. In shedding the old moniker for a new one, Xe (pronounced Zee), the hope is that the organization’s transgressions will be forgotten.

SynergyBlog can assure you, their transgressions will not be forgotten. However, if the organization truly has an interest in repairing its reputation, there are some steps that it can take to begin to repair the brand and rebuild trust.

First, it will take time. A lot of time. And it will require the stakeholders, including the Iraqi people, Americans whose reputations have also been tarnished by these acts, and the world community to be willing to forgive and willing to reconcile.

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