According to a new Ad-ology Research study, “Advertising’s Impact in the Soft Economy,” more than 48% of U.S. adults believe that a lack of advertising by a store, bank, general business, product or auto dealership during a recession indicates the business must be struggling. Conversely, a vast majority perceives businesses that continue to advertise as being competitive or committed to doing business.
C. Lee Smith, president and CEO of Ad-ology Research, says “ It is critical to advertise in the current economic climate, to maintain long-term positive consumer perception of your brand… advertising … assures consumers of a business’ reliability…”
Other key findings include:
· 40% of consumers use coupons more now than a year ago
· A deeply discounted price was the #1 factor that would make consumers more likely to purchase a big ticket item ($1,000 plus)
· TV, Radio, newspaper, and internet top local media from which consumers saw/heard an ad within the last 30 days that led them to take action
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