This story is about how customers have lost trust in brands since the begin of the recession. For the first time in 10 years the world's top 100 brands have fallen says Interbrand, a branding agency that ranks different companies. The recession has caused people to loose trust in some name brands, says Interbrand CEO Jez Frampton. Frampton believes that, "Brands are promises which we value and are prepared to pay for and if we feel those promises have been broken we're less likely to trust." Many companies have lost a lot of ground this past year due to the recession. Companies like American Express down 7 spots from 15, or Citi way down 17 spots from 19. Other companies like GM who had taken government aid, lost trust from customers and didn't even make the top 100. The Coca-Cola Co. who has stayed in the number one spot since 2000, has stayed very stable. Even though Microsoft, General Electric, and Nokia lost ground in the past year they were still able to make the it in to the top 5.
Wow, it was hard to read this story without throwing up. I mean yes, the past year has been hard for everyone, but come on. They made a couple of BILLION less then the year before. I'm sure that the CEOs of these companies lost lots of sleep over the whole thing. Don't get me wrong a billion dollars is a lot of money, but when you made 34 billion to 32 billion, please. What about the people who lost their jobs, because companies like this wouldn't take a cut themselves. Lost trust you better believe I lost trust. The only thing big companies like this care about is them selves and their way of life. Not all companies are like this but the majority will throw you away like a piece of trash and never think twice about it.
Sorry I am so hostel about the whole thing, but I am so sick of hearing about how hard it has been for people who have lost nothing compared to those who have lost everything. I think that the recession has been very bad for many, and sure people have lost trust in a lot of companies. I also think that the recession has opened a lot of peoples eyes to the truth about what some companies are all about. It has also helped people understand that just because it has a brand name doesn't always mean it is better.
Just a thought to remember that know matter what your bank account says today doesn't mean you are safe tomorrow, just ask the ex- CEO of GM Motors.
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I find it revolting when people like the x-Ceo of GM is now in the unemployment line supposedly. Being unemployed several times due this wonderful recession I hear people making money like that my heart is big but seems to shrink a size or two that day. I find myself idolizing the Grinch in this case, no pitty at this house for such non sense. Wonderful work on your behalf of the story.
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