Does marketing for SME's equivocate the needs of larger organisations in our current economy

Recently I caught up with an old aquaintance who had some information relevant to SME's and their marketing. It is interesting how these ideas can also be applied to larger organisations Here is a summary... The talk of the economy and its impact on SME’s surrounds us daily. The media reinforces the tough times that consumers are currently experiencing and the business world watches on as the ASX continues to fluctuate. This is weakening both consumer confidence and the consumer spending that has been buoying our economy for the last 12 years or more. Obviously this downturn in spending and confidence sees many companies ‘retreat’ (cut their marketing budgets) in order to weather the financial storm. This strategy of course is an easy one to justify (especially by those responsible for finances) and has the added advantage of seemingly bolstering (some would say, camouflaging) earnings by simply cutting marketing costs as an expense to the company.

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In Praise of Marketing

Many dismiss marketing as manipulative, deceptive, and intrusive. Marketing, they argue, focuses too much of our attention on material consumption. More recently, Benjamin Barber, in his 2007 book Consumed, claims that marketing is "sucking up the air from every other domain to sustain the sector devoted to consumption." He is correct. Coca-Cola, Nike, and Starbucks command more loyalty among many consumers than any political party, trade union, church, or mosque. Indeed, Starbucks founder Howard Schultz sought to make his coffee shops the "third place" in our lives, after home and work.

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Allocating Marketing Resources

Deciding how to allocate marketing resources is particularly difficult because decisions need to be made at many different levels—across countries, products, marketing mix elements, and different vehicles within elements of the mix (e.g., television versus the Internet for advertising). With the increasing availability of data and sophistication in methods, it is now possible to more judiciously allocate marketing resources. In this paper, HBS professors Gupta and Steenburgh discuss a two-stage process where a model of demand is estimated in stage-one and its estimates are used as inputs in an optimization model in stage-two.

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Connecting with Consumers Using Deep Metaphors

Think of famous brands you know: Hallmark cards and Coca-Cola soft drinks, for example. What do these products have in common for consumers? An emotional meaning that taps into thoughts and feelings related to the positive aspects of transformation, according to Gerald Zaltman and Lindsay Zaltman

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Seven Tips for Managing Price Increases

When driving these days, do you look at the prices every time you pass a gas station? Do you notice yourself paying more attention to the prices of everything you buy? You are not alone. Consumers everywhere are more price aware. People who've been indifferent to price increases for years are suddenly amazed at what things now cost. How can marketers cope not just with inflation but with consumer sticker shock?

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