Rethinking Aspirations
February 12, 2009
The global economic crisis is challenging the aspirations of hundreds of millions of people, especially in the developed world, forcing consumers to focus on basic needs rather than higher-level hopes and ambitions. This trendletter considers how expectations are being downsized as economies transition out of a long boom period into the most serious recession in decades.
It explores signs that hard times are prompting people to re-examine their lifestyles, the new role that governments will play in shaping aspirations, how frugality will morph from distressing necessity to smart lifestyle aspiration, and how marketers and brands should respond to this shift in aspirations.
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