Marketing in a changing economy

Marketing is about to undergo some fundamental changes as capitalism under self-regulation is on the way out.  Marketers have thrived since the 1970s in the laissez-faire, neo-liberal ideology built on easy access to credit.

In the coming world, this credit will be harder to come by. It will no longer be enough for marketers to stimulate demand and expect people to somehow find the cash to satisfy their desires.

The free-wheeling approach to consumption may be replaced by a far more discerning attitude to the way we spend. Rampant consumerism is taking a knock. Purchasing on the 'never-never' could give way to actually saving up for goods before we buy them. This will mean brand reputation increases in importance as people become intolerant of disposable goods and planned obsolescence.

The trend of recent years towards naivety and innocence in design and advertising is likely to advance. A lot of brands have adopted the optimistic values of sixties idealism to boost their images. Such an approach could come to the fore in the new era where greed-driven capitalism earns an increasingly bad name. Innocence in advertising is likely to become more pronounced as people rebel against the muscular, self-assured and over-confident branding of the free-market era.

But when stability returns to the economy, as surely it must, the big issue will be whether we return to the heyday of runaway consumerism that marked the late 20th century and early part of this one. There will still be plenty of marketing around. But not as we know it.

If you believe your company or brand requires re-positioning we can help.  Call 0131 225 2225 or e mail info@marketing-works.co.uk