As the economic crisis deepens it would seem no surprise that consumers would spend less and that company revenues and profits would go down as a result.
The natural reaction of many businesses in this situation is to tighten their belts, reducing costs across the board until recovery starts.
Initial cost–cutting can quite often focus on the marketing budgets, with advertising an area where value seems hardest to prove being the first area to go.
But is that really the right strategy to adopt during an economic slowdown? Increasingly there are arguments which suggest that this approach is a false economy and that continuing to spend on marketing during a recession can have significant long-term commercial benefits.
So, if an advertiser is to continue spending, how do they ensure that they are reaching an audience that are receptive to the advertising?
Guardian News and Media’s latest piece of research looks at consumer insights in response to the recession, are people still spending? Are people feeling financially insecure? Are there people that are more resilient in a recession?
The Guardian Guide to Consumer Confidence is a proprietary piece of research using the YouGov and Brand Aid Panel to review current consumer response to the economic situation and within this how GNM consumers are being affected.
The natural reaction of many businesses in this situation is to tighten their belts, reducing costs across the board until recovery starts.
Initial cost–cutting can quite often focus on the marketing budgets, with advertising an area where value seems hardest to prove being the first area to go.
But is that really the right strategy to adopt during an economic slowdown? Increasingly there are arguments which suggest that this approach is a false economy and that continuing to spend on marketing during a recession can have significant long-term commercial benefits.
So, if an advertiser is to continue spending, how do they ensure that they are reaching an audience that are receptive to the advertising?
Guardian News and Media’s latest piece of research looks at consumer insights in response to the recession, are people still spending? Are people feeling financially insecure? Are there people that are more resilient in a recession?
The Guardian Guide to Consumer Confidence is a proprietary piece of research using the YouGov and Brand Aid Panel to review current consumer response to the economic situation and within this how GNM consumers are being affected.
