(DISCLAIMER: I wasn't taking notes, and I'm having a hard time finding the ad online) Essentially it said: The recession may be over, but we know times are tough. That's why we offer free lace replacements at any of our stores ...
The ad went on to explain how by providing owners with new laces, Red Wing is helping to keep you out there working to help your family.
The marketing strategy used in this ad makes sense. There is a gruff male voice explaining how essentially the small-town worker (most likely a physical-labor worker) doesn't need to worry about a lack of money keeping him from replacing the laces for the boots he needs to make a living. Red Wing knows its audience and capitalizes.
But what caught my attention was the beginning of the ad, which referred to the end of the recession and times still being tough.
Red Wing got it right, the recession is over (just ask my econ professor, who I linked to in my last post). But if it's over, why is Red Wing still holding on to it as a marketing chip?
I'm not a marketing whiz by any means, but to me this seems like a smart idea for businesses.
Here's what I picture a board room conversation in the marketing department of a nationally-competitive brand sounds like:
Boss: We need a new way to market our product.
Marketing staffer: What about the recession?
Boss: What the hell do you mean, "What about the recession?"
Marketing staffer: What I mean is, what do people think of when they think recession?
Boss: Hard financial times.
Marketing staffer: Right. And when people fall on hard financial times, what kind of prices are they looking for?
Boss: Low prices.
Marketing staffer: Exactly. So if we mention the end of the recession and tough times in our ad, people will be expecting us to give them a service at a low price — or perhaps even free. That means we can take a service that we already offer that doesn't cost us a lot of money, slap the words "recession" and "hard times" in the front of it in our ad and people will eat up our products.
Boss: Genius.
Conversation ends with a firm handshake and a "drink the Kool-Aid smile from those in the boardroom.
Honestly though, if I need new work boots for the upcoming construction season, am I going to go with the company that offers me only boots or the company that offers me boots and something free (assuming boot prices are within, let's say, $5 of each other across the board).
And the hard financial times are something that everyone can relate to after what happened over the past few years. A relatable ad that helps me get something that I didn't already have? Sign me up.
My aforementioned econ professor has mentioned in class multiple times that the media takes things out of proportion when it comes to things like the recession, unemployment rate, etc. But are businesses trying to sell a product doing the same?
Yes. And at this point in time, it's a brilliant move.
I'm not a marketing whiz by any means, but to me this seems like a smart idea for businesses.
Here's what I picture a board room conversation in the marketing department of a nationally-competitive brand sounds like:
Boss: We need a new way to market our product.
Marketing staffer: What about the recession?
Boss: What the hell do you mean, "What about the recession?"
Marketing staffer: What I mean is, what do people think of when they think recession?
Boss: Hard financial times.
Marketing staffer: Right. And when people fall on hard financial times, what kind of prices are they looking for?
Boss: Low prices.
Marketing staffer: Exactly. So if we mention the end of the recession and tough times in our ad, people will be expecting us to give them a service at a low price — or perhaps even free. That means we can take a service that we already offer that doesn't cost us a lot of money, slap the words "recession" and "hard times" in the front of it in our ad and people will eat up our products.
Boss: Genius.
Conversation ends with a firm handshake and a "drink the Kool-Aid smile from those in the boardroom.
Honestly though, if I need new work boots for the upcoming construction season, am I going to go with the company that offers me only boots or the company that offers me boots and something free (assuming boot prices are within, let's say, $5 of each other across the board).
And the hard financial times are something that everyone can relate to after what happened over the past few years. A relatable ad that helps me get something that I didn't already have? Sign me up.
My aforementioned econ professor has mentioned in class multiple times that the media takes things out of proportion when it comes to things like the recession, unemployment rate, etc. But are businesses trying to sell a product doing the same?
Yes. And at this point in time, it's a brilliant move.
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