Do brands matter in a recession?

Ije Nwokorie, Senior Strategist, Wolff Olins - Do brands matter in a recession?

Category:

Education

Tags:

• Survival of the Fastest
• Business
• Executive Management
• Thought leadership
• Debate
• Executive Comment
• Recession
• Downturn
• Slowdown
• Economy
• Economics
• Business Management
• Leadership
• How to guide
• Google
• Daily Telegraph
• London Business School

[Chivas6]

People like you sadly in the majority I fear. Buying something only because they are 'the top brand' is bad for competition and ultimately bad for the consumer.

[EbonM]

I enjoyed watching this video, it was a good speech on an interesting topic.

[bigjonnyjon]

The government is a Brand also

[yinkoos]

We dont live in a communist state, we live in a competitive free market economy. As a strategists you seem to have completely forgotten about product positioning and the role a product fulfils among various categories of customers. Branding is the perception or reality of what sets one product apart from it generic counterpart.

No brand no choice.

[Qudans09]

Addentum (additional notes).

The only thing that give clarity to every a business does is called

"corporate philosophy" —core ideology is just another name for it.

This is what employees and customers buy into —not ideas.

[Qudans09]

Without prejudice,

Brands "are" about image the perception of the business, but

what part of that is manageable? The way it's communicated?

Thing is — many Brand managers/consultants often sell the 'end'

as the means. Brand managers don't create behaviour, products

and services and this is one of the main reasons marketers lose

credibility. Grandiose claims —superficial results, and sunk costs.

[Qudans09]

Bottom line. 3 things

1/ Brand is a proxy for image interchangeable, no escaping this.

2/ Don't sell the end as the means clearly articulate how you can

create real palpable value rather than confusing rhetoric, e.g.,

customers don't buy ideasthat's just marketing snake oil.

3/ The thing that give clarity to every a business does is called

"corporate philosophy" —core ideology is just another name for it.

ps. In a recession adopt a right-sizing strategy ; P

[Geoleo0]

Brand will automattically be branded if the quality of the product is up to good standered so Regardless of what you are buying and on what price you are paying if the quality is good you will remember that name as a brand.

[arrowheadrs]

clothes brands are everything to me =] But ill still eat morrisions beans :D

[smopoo]

pointless question.

[quiplet]

ooh, lets see now...do brands matter? Yeah right chum, people are angry about stuff and especially people like you wasting an education helping to pimp more stuff nobody really needs.

[RetroSmooveHouse]

I think brands matter in a recession if they (as responsible, ethical companies) can pull us out of one. Most components of the economy have been exhausted (technology/travel/property) and it will be interesting to see what new innovation/industry (green?) can rescue such a dire situation. Brands matter if they 'support' the economy - invest, innovate, create jobs, training, vocations. But brands are pow-less at the mo. Relationships with the banks and consumers have hit an all-time low.