Thursday, October 30, 2008
With the U.S. economy in turmoil, many Americans are pinching pennies where they can. According to a recent article in PR Week, this has resulted in companies modifying their public relations and marketing campaigns to emphasize value-based offerings.
The article highlighted ConAgra and its Healthy Choice brand, which recently released a new line of frozen meals that it will market as an office alternative to going out for lunch or buying lunch in the company cafeteria.
Kmart has started pushing its layaway electronics program especially as the holidays approach, and according to the article, Denny’s has launched a new ad campaign asking “Who's Bailing You Out?”
During economic downturn, businesses and their marketing teams should address consumers’ concerns. Since businesses too are cutting expenses where they can, public relations and marketing firms would be wise to pitch similar ad campaigns that emphasize clients’ value-based products. It’s a good way to keep their business and show clients why effective marketing campaigns should be seen as a necessary investment in both good times and bad.