“How Marketers Can Cope With Consumers’ Newfound Frugality” by @AviDan
To Survive and Prosper, Marketers Must Rethink Everything
by Avi Dan, AdAge.com, Published: May 19, 2009“If today’s frugality and shrinking markets are the new normal, are marketers ready for it?
Consumers make up 70% of GDP, and that figure has contracted 5% since the start of the recession. Yet it’s not the image in our rearview mirror that’s worrisome; it’s the prospect of permanent consumer retrenching. Wages and benefits accounted for 68% of household income in the past, with the rest made up of other forms of income, and in particular rising asset values. But with wages frozen and asset values declining, is a smaller economy the new norm?…”
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ABOUT THE AUTHOR
Avi Dan is a marketing consultant with 30 years’ experience in business, brand and strategy for flagship consumer brands who specializes in business development for communications and marketing-services companies.—
Comment:
I get excited when an acquaintance ‘pops’ up in my inbox, this time c/o AdAge.com’s daily newsletter.
New York based marketing/new business expert Avi Dan (who I first met c/o Havas in Barcelona) has written a really interesting piece focusing on change of buying behaviour and CMO’s needing to really ‘Rethink’ their approach… [DD]
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