The spillover from the subprime mortgage crisis is weakening both consumer confidence and the consumer spending—much of it on credit—that has been buoying the U.S. economy and it did wrap the globe
The worst hit during this time are marketers and advertising agencies because almost all the corporates believe in conserving capital and they consider marketing as an expense
As marketers we are so often faced with the dilemma of having to cut advertising in times of economic softness and I wish to highlight how one bank capitalized to enhance their brand with ‘Long Live Ambition’ campaign. The campaign is well executed right from target profiling to media vehicles to messaging. A powerful and inspiring statement which will go long way in building positive image about their brand
My colleagues and fellow bankers did criticize their timing however, in the current economic scenario where there are advertising budgetary cuts, uncertain consumers do need the reassurance and positivity of known brands. The highway from Dubai to Abu Dhabi is painted with their brand and for someone who is entering Abu Dhabi this campaign gives a strong message of positivity.
As said by Kotler and many eminent marketing gurus – successful companies do not abandon their marketing strategies in a recession: they adopt them – Long Live Ambition