Marketing When Consumers Aren’t Buying
One of my favorite things to do while driving in the car is listening to NPR. This morning on “Morning Addition” I heard this story about trying to marketing in a economy where no one is buying. Since I work in a Marketing department as a designer, the story caught my attention and it is worth listening to. Timothy Calkins, a marketing professor at Northwestern University’s Kellogg School of Management, talks about companies changing their messaging and some not advertising at all. One company, Hyundai, is letting consumers return their new cars if they loose their jobs within one year. Timothy mentions more companies will start doing this in the future. He also mentions that companies don’t want to go down the “cheap” route because in hard times, consumers want things that are going to last. The cheap approach could do more harm to companies than good. As far as the Super Bowl, which is usually a spot advertisers are going after, some companies like FedEx and GE aren’t advertising at all. This is the first time in a decade for both of these companies not to run commercials at the Super Bowl.
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