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Posts Tagged ‘Branding’

marketing researchWe 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. (more…)

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face-book1Tonight SynergyBlog received an invitation to join a group protesting Facebook’s new privacy policies. We were a little surprised, because many of our colleagues – executive types, we assure you – love Facebook!

The popular web site provides untold opportunity for younger and college-aged individuals to keep in touch. However, the Facebook-user average age is growing dramatically, with adults being their fastest growing customer segment. In fact, the site’s 35-54 year old segment grew 172.9% in 10 months between 2007 and 2008. Even the 55+ age group grew by 97% in the same time frame.

Not surprising. The site gives professionals a chance to catch up with colleagues, friends, and family without a tremendous investment of time… well, except for those Facebook addicts (you know who you are)!

What is Facebook’s new privacy policy, which will reportedly allow the popular social networking site to retain, and reuse, all user-generated content even after the account-holder cancels their account, doing to the brand?

At 11:16 p.m. there were well over 59,700 members of just one of the numerous protest groups forming on Facebook. By tomorrow morning, news outlets will likely lead with this story. (more…)

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strong-brand in weak economyLet’s get the bad news over with: To say that the U.S. economy is facing the most challenging economic time since the Great Depression is not an overstatement. Last week, employers shed almost 600,000 jobs. Today, 11.6 million Americans are out of work. According to the Bureau of Labor Statistics, the unemployment rate has officially risen to 7.6%.

“This is the largest 13-month job loss since the payroll employment series began in 1939,” Christina Romer, the head of President Obama’s White House Council of Economic Advisers, said in a statement on February 6, 2009. “These numbers, and the very real suffering of American workers they represent, reinforce the need for bold fiscal action. If we fail to act, we are likely to lose millions more jobs and the unemployment rate could reach double digits.”

So, what’s the good news, you say? Given these data, how do business, political, and nonprofit leaders reignite confidence in their ability to lead? How do they exemplify brand integrity, and any good will their organization may have? Is such a thing even possible, given current levels of consumer confidence and general economic malaise? (more…)

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