Written by ©2018 Lien Design
The economy rises and falls and brands often respond to these fluctuations by raising and lowering their prices. During times of economic depression, brands may lower prices and may also cut back on their marketing budgets to make up for the lack of income. Although this may make practical sense, it often results in consumers forgetting about your brand and not buying from you, even after the economy has bounced back. Keeping that in mind, here are some examples of brands who survived the Great Depression and how they kept their marketing strong throughout.
Proctor and Gamble:
This company was mainly selling soap at the time of the Depression. Instead of cutting back on marketing, they sought new avenues and began using radio as a means of marketing their product. They sponsored a daily radio drama called Ma Perkins. This form of sponsorship appealed to so many consumers, it launched the term ‘soap opera’, one that is still popular in modern times.
C.F. Martin and Company:
This guitar maker became successful by enforcing a policy of not giving discounts to larger stores that they wouldn’t give to mom and pop stores. The company’s reputation for fairness made them one that was so well liked by customers, they have remained successful to this day.
Louis B. Mayer:
This head of MGM saw that movie attendance was beginning to plummet during the Depression. He responded by offering double features for the same amount of money consumers were paying for one movie. Pairing this marketing move with the slogan ‘Movies are better than ever’, helped to make MGM the movie giant it is today.
Yuengling was a beer brewer before the Prohibition. When his product became illegal, he began manufacturing ginger ale and heavily marketed the product and its praises. This new drink was perfect for masking the power of bootleggers and went perfectly with the alcohol served in speakeasies. What’s more, it is still a popular drink.
These are all great examples of companies who dealt with the Depression by continuing to market and used methods that appealed to the needs of the people at that time.
Whether you are marketing during times of depression or not, it’s always a good idea to have a strong marketing strategy to keep your brand visible. If you’re not sure of the best ways to market your company, hiring a professional design branding agency can help.
Lien Design is a graphic design and branding agency located in San Diego, California. They are familiar with the latest trends in branding and have insight into consumer needs ensuring that your branding does the trick, regardless of the economic climate. Whether you are looking for web design branding, logo and label design or any other forms of marketing, Lien Design will give you the edge you need to stay on top of the competition.
Disclaimer: All product photos and logos are property of their corresponding companies.