Some economists believe that markets are cyclical, others see them as random. But all agree that economics is about deciding what’s valuable, and in times of uncertainty people re-evaluate what is valuable in their lives and what is not.
There’s been some suggestion that the global “downturn” is upturning. However, for the most part, we’re still being challenged and nothing in the economic news – America’s debt, China’s slowdown, the flat-footed European economy, Britain’s economic woes, commodity trends – suggests a sudden and universal change of fortunes.
It is hard to underestimate the importance of a strong brand in relation to the company’s other assets.
The world is not flat. Discontinuities characterize everything, and it is in inefficiencies and breaks in the general pattern that exceptions can always be found. This is true in both good times and bad.
In marketing, focus is always critical. Losing focus, especially in challenging economic times, can lead to ‘the end’ for brands. In what ways should a brand marketer focus? First, one should be very specific about the target customers and audiences to which the brand is intended to appeal. That drives everything else.
