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John Rose's Blog

Reward Promotions Drive Sales and Protect Brands in a Recession

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(from my article which appeared in the Moscow Times)

It is painfully obvious that during economic downturns spending patterns can shift dramatically. Consumers generally eat at restaurants less often, make fewer shopping trips, buy less expensive brands and defer big-ticket purchases.
Unfortunately, many businesses respond to this slump by slashing marketing budgets and discounting their prices -- which in turn produces less profit and forces further cuts in marketing spend. If this cycle isn't broken, the business may be left with a wounded brand when the market rebounds.
It doesn't have to be this way.
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The End of Bling-Bling?

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The term bling-bling was created by hip-hop artists on the eve of the new millennium and soon entered the vernacular to mean all things flashy and elaborate as the swelling global economy led to avarice and ostentatious consumer behavior.

But what will the new market realities mean to luxury brands. Will the reversal of fortunes result in a protracted period of austerity?
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