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The Importance of Brand Presence in Economic Downturns: Refilwe Maluleke
Manage episode 371287896 series 3351635
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In today's tough economy, brands and consumers are facing unprecedented challenges. Unemployment is high, inflation is soaring, and people are feeling the pinch. As a result, some brands may be tempted to scale back their advertising, marketing, and corporate social responsibility (CSR) and corporate social investment (CSI) efforts.
However, this approach could be counterproductive. In this episode, Refilwe Maluleke, the CSO of TBWA\SA and MD of Yellowwood, explains why it's important for brands to stay authentic and consistent with their brand promise, even during economic downturns. She cites examples of companies like Apple, First For Women, and Nando's, which have all maintained their core values and built strong customer loyalty as a result.
Maluleke also discusses how brands can effectively use their CSR initiatives to show what they stand for. She argues that CSR can be a powerful way to connect with consumers and build trust during difficult times.
Listen to this episode to learn more about the importance of keeping your brand strong during economic downturns.
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Audio editing and production by: Maishe Rakgoale
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