Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves.
Branding is not merely about differentiating products; it is about striking emotional chords with consumers. It is about cultivating identity, attachment, and trust to inspire customer loyalty. Chinese brands score low on attributes such as 'sophisticated,' 'desirable,' 'innovative,' 'friendly,' and 'trustworthy.'
A lot of consumers actively enjoy advertising, especially fashion print ads and clever TV commercials. The nostalgic cable channel TVLand features not only vintage shows but also vintage commercials.
What really decides consumers to buy or not to buy is the content of your advertising, not its form.
There is no disputing the fact that American consumers pay 30 to 300 percent more for the same prescription drugs as our counterparts in Canada, Europe, and the rest of the world.
Companies and their brands need to reach out and speak directly to consumers, to honor their values, and to form meaningful relationships with them. They must become architects of community, consistently demonstrating the values that their customer community expects in exchange for their loyalty and purchases.
The most potentially transformative impact of social media is its ability to encourage brands to marry profit and purpose. The reason brands participate is that such outreach earns those companies social currency enabling them to start or participate in conversations that connect them to consumers in meaningful ways.
Outsourcing and globalization of manufacturing allows companies to reduce costs, benefits consumers with lower cost goods and services, causes economic expansion that reduces unemployment, and increases productivity and job creation.
It takes a big idea to attract the attention of consumers and get them to buy your product. Unless your advertising contains a big idea, it will pass like a ship in the night. I doubt if more than one campaign in a hundred contains a big idea.
I think there will be an increasing convergence between content and commerce, that it will be about following consumers instead of making consumers come to you, and I am especially excited about the various platforms that will allow more and more access to customers.