Oct
02Phew it’s been a few days, but I think I’m still recovering from taking 2 tests last week! In the next 2 weeks, I have 3 more midterms, 2 projects, 4 workshops, 2 other events + ongoing course work…but I guess that’s the MBA program for you!
What with all the financial concerns of the economy, my subscription of BusinessWeek these last 2 weeks has had nothing but Wall Street & related concerns. In continuing to figure out how this might affect me personally (as in the fact that MBA’s graduating into a recession/depression make on average 20% less over their lifetimes *yikes*), some good news…
“Gutsy marketers spend into the teeth of a recession” according to the article Best Global Brands. With current economic difficulties, the marketing budget may be an easy target for cost-cutting, but many companies use the recession to “get a leg up” on the competition in the area of brand building. While everyone else may be cutting down on their marketing strategies, those who spend can theoretically lure in more customers via advertising, then when the recession smooths over, come out on top in terms of brand identity & loyalty.
Of course, as consumers in this same recession may also be cutting back their spending & quickly changing their tastes & habits to cheaper tastes & habits (hello McDonald’s [coffee], goodbye Starbucks), marketing research (*ahem, my chosen area of MBA focus*) will be crucial to make sure that if marketing dollars are spent, they are spent very, very wisely!
frappucino or crapuccino?
