One of the first corporate cutbacks in dire times has traditionally been a companys advertising and marketing budget. However, whether this is a good move for the long term can be questioned. A new study by Nielsen showed that when asked about their own banks, insurance companies and investment firms, 55% of respondents who said they had seen more advertising for their financial institution reported having "complete confidence" in the financial health and soundness of their financial company and only 18% said they had "little or no confidence" in their company. Among those who said they had seen less advertising, only 18% had "complete confidence" in their financial company and 45% said they had "little or no confidence" in their company. Overall, a minority of respondents said they had "Complete Confidence" in their financial institutions.For the full study click here.
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