06 May 10 Brand Loyalty Badly Hit by Recession
In a new study released by comScore, it has been revealed that in the time of the economic recession when people was losing their jobs and were uncertain about their future, they have stopped believing in brands.
Even the brands loyal have claimed to have stayed away from purchasing their favorite brands. In March 2010, more than 50% said that due to the recession, they did not buy the brand they wanted to.
The categories that were already on the fall, before recession, did not see much of a change, but categories in which brand loyalty was paramount got hit by the recession. Apparels, OTC, and Health and beauty products saw the major decline. These are the categories that had most brand loyalty. See image above for detail.
Shifted to cheaper brands
While answering a question about what the consumers buy if not their preferred brand then they revealed their trading down behavior as well. Coupons, discounts, and freebies were said to be on the decisive factors in preference setting. See image for detail.
Tags: Brand Image, Brand Loyalty, Comscore, Consumers, Coupons Discounts, Decisive Factors, Decline, Economic Recession, Health And Beauty, Health And Beauty Products, Jobs, Otc, Paramount, People, Preference, Preferred Brand
02 May 10 Recession May Have Ended, But Not the Recessionary Mindset
Experts come on TV, talk on radio, write in the newspaper, and even blog about it, but not everyone is willing to buy the story (or fact) they are selling using all the media they can. For many American the worst is not over yet. They feel the economic recession is not over yet, as revealed by an opinion poll conducted by Harris Poll.
As much as 58% Americans do not believe that the economy is going to improve in coming year — 33% thinks it will stay all the same, but 25% fears the worse has yet to come. 10% of the respondents said they are not sure of the state of the economic affair in the United States. And only 32% showed confidence in the recovery. (See picture)
If we alter the timeline a bit then the figure is even more disheartening. Almost 80% (combined) of Americans believe the economy will not improve in the next six months — 50% believe the economy will not change in the next 6 months, whereas, 29% fear the worse may happen.
It is on the administration and regulator to falsify the belief of more than 50% of Americans. They need to work hard to prove the skeptic wrong.
In which group I fall?
Well, I am an optimist.
Tags: Belief, blog, Confidence, Economic Recession, Economy, Fear, Fears, Harris Poll, Mindset, Opinion Poll, Optimist, Radio, Respondents, Six Months, Timeline, Tv Talk, United States
23 Sep 09 Writing A Resume In A Recession
Part of surviving in an economic downturn, is knowing how to adjust your job hunting tactics. Part of that is adjusting your resume. As your resume is your introduction, or pre-interview to a job, you have to know the right direction to take in an economic recession. If any company does happen to be hiring, they’re going to be more discriminatory than before to applicants that don’t meet their qualifications. Meaning you’ve got a much larger wall to climb, in order to get your foot in the door.
The number one step in this plan is to keep your resume as current as possible. By frequently updating your resume with your most recent accomplishments, or work history, you ensure it’s current and very reflective of you. Beyond that you want to customize your objective to tailor to the company to which you are applying. Your objective should not be a bland description of what you want out of a job, but rather what you want to put into a job. Specifically focused on the company to which you are applying.
Highlight your stability from previous jobs. By emphasizing that you are a worker that is reliable, and also with a fair amount of loyalty, you make yourself an asset to an organization. Companies are looking to people that they can count on if they’re actually hiring during a recession. Highlight the fact that you are dependable, and that a company would do well to hire you for that fact.
Finally, make sure that you personalize the resume for each company. You need to have a job specific resume each time, so that you are presenting yourself as an interested party. By making the resume count for them, you look interested and ready to commit to the position. The work you put in before you actually get a job will pay off on your road to getting hired.
Tags: Current, Economic Downturn, Economic Recession, Interested Party, Job Hunting, Job Pay, Job Resume, Jobs, Loyalty, Objective, Right Direction, Work History, Writing A Resume, Writing Resume
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