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Strategies for post recession consumers

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Introduction

Alex P Keaton Marketing 350 9/30/09 Marketing Project- Individual In the article, "Time to reset strategy for post-recession consumer" by David Donnan, what has changed consumers in the present and what will drive consumers in the future is analyzed. As the result of the enormous financial meltdown, consumer spending is down and consumer behaviors are changing. Donnan argues that the lost wealth of Americans will produce a new consumer; who need to be identified and targeted for future economic growth. Americans have seen a 22% decline in its collective net worth. ...read more.

Middle

This is a profound statement about the American consumer in that it declares the end of reckless spending on material goods that dominated the last decade to an era of responsible spending where environment, health, and need are the focus of consumers. Opportunity can arise from a new value-driven consumer. Donnan observes that customer loyalty is up for grabs. New and improved ways to reach and target consumers should and must be approached. Also, new technologies and "customer-centric investments" implemented by companies should allow value and functionality in their products to reach these new consumers. ...read more.

Conclusion

Survey research, the most popular technique for gathering data, can also be reevaluated and may get more honest answers based upon consumers' shift from want to need. During the research for this assignment, I found that most of the articles and feedback on this topic resides on blogs. Future advertising and customer value concerns will most likely be voiced on this medium as well as variations of mobile communications. While there are some methods for mobile transfer, eg. Twitter, these remain ambiguous. I believe more refined methods for this kind of communication may result from the need for marketers to get better information to enter into their marketing research process. ...read more.

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