Strong Brands Remain Popular Though Economic Downturn
Written by Ken Gaebler
SMBs may want to take a page out of the book of some of the most historically strong brands.
If small businesses question the need to market themselves to increase brand awareness they need only look at a recent study from EquiTrend and Harris Interactive which finds that some of the most well known brands stay at the forefront of consumers' minds especially during economic downturns.
The study of more than 1,000 brands looked at a number of aspects including familiarity, trust and brand expectation. But with the state of the economy the EquiTrend measured the value consumers feel there are getting when they purchase a brand.
Food companies dominated the top ten with M&M's Plain Chocolate Candy taking the number one spot, just in front of Hershey's Kisses Chocolate Candy. The only non-food brands to crack the top ten were Arm & Hammer Baking Soda (third), Kleenex Facial Tissue (sixth), Google (eighth) and Crayola Crayons to round out the top 10.
"Consumers continue to turn to strong, trusted brands, particularly during periods of uncertainty," said Judy Ricker, division president of brand and communications consulting at Harris Interactive. "Strategic investment in and careful monitoring of your brand is critical in both good and bad times, and will help you navigate the volatile environment."
This could be good news for small businesses that continue to market their products or services through the recession.
Have Friends Who Might Like This Article?
Share this on Twitter
Let them know on LinkedIn
Ready to Learn More? We Think You Might Like These Articles:
About Our Small Business News
Gaebler.com journalists write new news articles for entrepreneurs five days a week. Our entrepreneur news articles review trends in entrepreneurship, analyze the impact of new government policies, present relevant entrepreneurial research findings, and cover many other topics of interest to small business owners.