Don’t Panic. Stay The Course.
Tuesday, September 30th, 2008So, unless you’re living under a reaaaaaally big rock, you probably know that the economy isn’t doing so well right now. And it’s not getting any better, with news yesterday that the Government’s financial bailout package didn’t make its way through Congress - Immediately sending the Dow down almost 800 points. Yikes.
With all this trouble in the financial markets, there are tons of businesses that are going through some pretty tough times. Many of these businesses, once well-respected brands that consumers craved, are now offering bargain-basement discounts and incentives out of desperation in order to move the needle. You name it, they’re trying it. I even heard a radio commercial on a Washington, D.C. radio station two days ago that advertised ”20% off” on a newly constructed luxury home!!!
Relying on these knee-jerk tactics can be detrimental to a brand that has built its reputation on being a cut above the rest. Unfortunately, desperation and panic can make these type of brands go there confusing a consumer who has come to know them as a brand above the fray. But then on the other side of the spectrum, there are some that don’t panic and stick to their guns. These brands stay true to what has defined them over the years in better times, and make it work in their favor.
I was reading a blog post written by Chris at Fresh Peel, about a brand that did just that. Harley Davidson recently started a campaign that touted its solid fuel economy while still reinforcing what makes their brand unique. Check it out:
I love this campaign and I love this strategy even more. I think it definitely speaks to Harley Davidson’s unwillingness to compromise the brand, regardless of the economic conditions - and the undying patriotism (with the red stripes) speaks volumes about what Harley stands for. I think it’s going to be a strategy that will pay off for the company.
Garret Ohm
http://www.orange-element.com








