With the world in crisis due to Covid-19, it’s easy to see why the importance of brands is being overlooked and questioned. Consumers are increasingly cautious about where they put their money, what brands they choose to trust, and what those brands represent. However, with brands so intrinsically linked to GDP, we must consider the role that brands can play in rebuilding the economy and pioneering the new normal. With this in mind, we have assembled some of the greatest minds from digital, industry, government, and agencies to give their opinions on the burning question of Why Brands Matter.
As part of the International Advertising Association’s Why Brands Matter campaign, the IAA’s own Carla Michelotti, Vice President for Self-Regulation, shares with us her views on the current relationship between regulators and brands. Brands are increasingly under threat from excess regulation under the guise of concern for citizens; this relationship damages credibility in both governments and brands, leaving consumers disappointed and untrusting. With spending at an all time low, governments need consumers to be able to invest in brands to boost the economy. Yet how can this happen when governments are squashing brand identity? Only with proper government support can brands, and our economies, be allowed to thrive.
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