There are many reasons why Americans do not feel positive about the economy. Even though we read and hear that inflation is easing, many Americans do not feel secure and financially stable. A significant portion of Americans are being left behind.
Consumers face rising prices from many favorite brands. Insurance costs, fast food costs, transportation costs and the cost of stamps have all increased. The pushback from rising prices is now seriously affecting package goods, especially grocery-purchased brands. Package goods volumes are declining. Consumers are finding all sorts of workarounds by which to manage their stressed budgets. Consumers are balking at the cost of goods. Even Target, a brand-business based on affordability is experiencing revenue issues....
In 1957 there was a TV show called Who Do You Trust?. The host was Johnny Carson, pre-Tonight show icon. Who Do You Trust? was probably the last time that trust was considered comedic.
Once upon a time there was a durable goods company with a large staff of engineers. Management felt that the company would benefit from more creativity. Instead of hiring creative minds, the company decided to invest in transforming all of its engineers into creative, creator minds. It was a year of magical thinking.
In 2003, McDonald’s was, as BusinessWeek stated, “In Hamburger Hell.” McDonald’s subsequent turnaround had many facets. One of McDonald’s critical strategies was modernizing the brand-business without jeopardizing its heritage. In other words, McDonald’s aimed to evolve its heritage for today without losing its roots from yesterday.
