Most often marketing experts and marketing professionals use statistical means to calculate the relative value of advertising and marketing to predict and estimate in some form the outcome of these efforts. In today’s environment, there is little there to derive a solid marketing plan. There is plenty of solid data on population statistics, typical research, job loss, surveys, predictions and more, but predicting the outcome, is a short-term exercise in faith in what the future holds.
Mood, hope, faith, safety and security are not easy to measure. The future of faith of GM is a delicate idea and the government’s involvement to continue a horse-and-buggy/big top management/union style organization is frightening. “Businesses fail everyday” – yeah really – It does happen. Some are the fault of poor management, lack of vision, lack of investment or from external issues like foreign competition. Back in the 80s – Wal-Mart was all about Buying American” when it could – Now in the global market place it is buy Chinese and well…— Where else can you shop? Woodrow Wilson said “We are citizens of the World”, but the 80s emphasis was to regulate the balance of trade, but you never hear this mentioned anymore.
AIG, Genworth, and bank of America – the top management has led these companies into their current situation. The Stimulus “Bailout Debate” will likely continue forever because the fear of economic collapse needed some sort of reaction… Or did it? Woodrow Wilson said “The truth is we are all caught in a great economic system which is heartless”. It looks like man will always be a greedy animal.
So, when it comes to market research, just look around. Every restaurant chain has a deal, every retailer a sale, every business a special offer and prices on consumer goods drop – slightly because it is better to have the cash flow than let inventory rust. Manufacturers have decrease their raw materials and everyone I talk to says “We are holding our own”, whatever that may mean.
My advice is forget out last years sales and even the five year history and turn towards the wave of the new economy, it is easier to navigate that way. The winners will be the ones that could see the mist of doubt and the restraints of spending. Since less advertising is out there, your return-on-investment is better than ever. Call us and we will do a free quick assessment of whether advertising is a viable investment for your particular business. 434-455-7188
I will leave you with one last Woodrow Wilson quote
“A conservative is a man who just sits and thinks, mostly sits.”
Tags: Economic Factors, Economy, Effect, Marketing, Stimulus, Woodrow Wilson
