Thursday, 9 April 2009

This is Not a Recession, but a "Cultural Readjustment"!

Comment on Linkedin to the post: Psychology of Consumer Buying Decisions

John, I liked your "move from passion to compassion in marketing communications" comment! I think what we're now going through, to your point and that of the Economist article, is not really an economic readjustment, but a cultural readjustment, shifting the investment culture of the developed world away from over-leveraged consumption to having sufficient savings in the bank to allow your household to cover expenses through a 12 month downturn.

This is really a change that began about 15 years ago with a shift from accumulating 'stuff' to accumulating experiences amongst the early adopters, the rich. What it suggests is that there's a fundamental change happening that will indeed make social marketing, and experiential (married with interactive) marketing the most important media channels, beating out ATL by far.

Here's a blog article I wrote on "The New ATL" (below), but reading your piece above, I think I should have injected a bit more emphasis on social marketing than I did! As a consultant, you might like my "...Killing Luxury Brands" piece, as well.

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