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I believe, however, that consumer marketing is relatively safe. Consumer marketing is efficient from a labor standpoint. After all, one brand manager and an agency can manage the spending of $100 million and get a return of $200 million. It would take several hundred detail reps to get that return on labor. That is why I believe consumer marketing is the last to go. It gets the message out to consumers, as well as doctors, quickly and efficiently. While no substitute for detailing, it is a good marketing substitute for the detail duplication that has been the recent pharma phenomenon . Doctors receiving calls from four reps from the same company detailing one brand was overkill and counter productive.
4 commentsThursday, November 6, 2008
By Doug Caverly
So much for escaping the "financial bunker" mindset. After a short period of relative peace, we appear to be in the thick of things again, with layoffs taking place at both LinkedIn and Veoh, and less tech-related problems also occurring.
According to Reuters, LinkedIn's workforce was reduced in size by about ten percent. There's no word as to what departments were affected, but such a large number seems to signify a tightening-up in multiple areas.
The situation looks even more grim at Veoh, where 20 percent of the company's employees were laid off. CEO Steve Mitgang explained to Liz Gannes, "We have to make sure we have enough capital to weather the [economic] storm and ensure that we are operating with an efficient footprint."
Which brings us to the last layoff story we have today - the one involving online shoe retailer Zappos. Aside from allowing for an easy segue, Zappos belongs in this article because its employees are using Twitter to chronicle the process. (And Twitter, they should know, is hiring.)
A check on the markets reveals the final two issues: the Dow and the Nasdaq are down about 5.35 percent and 4.45 percent, respectively.
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Advertising will still be king
The economic climate will only get worse. People will have to pressure the government and continue the momentum gained in the elections. On that note companies will continue to advertise, since it is a write off, and because of this money will continue to be made. People will just have to know were to look.