Wednesday, December 3, 2008

Day 3: Hunger and Brands

Working in social-experiential marketing, I tend to think a lot about brands - about how to build brand love, brand value and brand experiences. With a $21 / week food allowance, the food I am eating is generic, completely brand-less. The packaging contains no logo, fancy fonts, color schemes - just the words "black beans."

As we enter what may the longest recession since the Great Depression, this experience has caused me to think about the impact of financial crisis on brand-loyalty. Faced with economic realities, many brands will be easily abandoned. An Information Resources Inc. study determined that about 30 percent considered high-income swallowed their pride and grabbed store brands in the year’s second quarter, up from 20 percent during the first. Consumers are now making very basic decisions about whether or not to pay a premium price for a favored brand.

Consumers are asking a more of brands: Do I trust the brand? What does the brand stand for? Does the brand support non-profit cause? A compelling case must be built for a brands singularity among aisles of generics.

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