Marketers Chucking Green Campaigns As Economy Slows
Sept. 16, 2008 - The sour economy is making green marketing pitches tougher for consumers to swallow, according to a new survey of chief marketing officers.
The CMO survey, by Duke University's Fuqua School of Business, forecasts that more marketers will be shifting away from their cause-related messages over the next year.
Respondents from Fortune 1000 companies and Forbes Top 200 small businesses ranked marketing that is "beneficial for society" at the bottom of five priorities for the next 12 months, behind "developing customer insights," "sharing marketing knowledge," and "preparing for marketing crises."
The low ratings for cause marketing match the pessimistic sentiments toward the overall economy, cited by just over three-quarters (77%) of the CMOs surveyed.
"If [consumers] can't afford the product, or it's not the quality you want, [they're] not going to be focusing on its environmental friendliness," Christine Moorman, the professor who led the survey, told Advertising Age.
The CMO survey reflects a massive turnaround in attitude toward cause-related marketing in just one year. In October 2007, PRWeek reported that 72% percent of consumers purchased have a brand because it supports a cause they believe in. At the beginning of the summer, companies such as Haagen Dazs, Sears, and Proctor & Gamble were reported as expanding their cause marketing efforts, suggesting the programs were paying off better than other promotional efforts.
For more information about the CMO Survey, click here.
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