
Is it what's reported in the news? Or what our leaders say? Or maybe it's the economic experts... Or???
| Ideas | Voting
results and bounty paid |
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| Word of mouth |
$4.00 bounty |
+5.17
score |
Add A Comment |
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Hearing from the government or press is great, and these are 'air cover', but nothing is more inspiring and emotionally-connected as hearing from 'someone like you'. Consider the following study: http://www.bazaarblog.com/2006/08/15/new-jupter-report-on-ratings-reviews/
It finds that peer-content (such as product reviews) was the most trusted and helpful form of content for people to make purchase decisions.
The same can be said for when we start hearing from 'people like us' that things are getting better.
Suggested by Sam
| The Passage of Time |
$2.00 bounty |
+5.04
score |
Add A Comment |
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Time changes everything. Right now, as a nation (and world) we are feeling that things are being taken from us in the way of spending power. But just as the stock market goes up and down, so do does consumer confidence. There will be a point in time when we all wonder why we were so afraid, and why we have cut back on spending. (At that time, we will have bigger savings accounts, since more people are saving money now.) New products are put on the market constantly. When enough time passes, consumers will take their savings and earnings and start buying again.
Suggested by Cristina
| Eternal truths. | +1.86
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Saying that what is needed now is what has always been needed etc.
Suggested by Scott
| Security | +4.38
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If consumers feel that their basic human needs are taken care of: housing, food, transportation, and income, then they can start feeling more comfortable about additional purchases like entertainment, eating out, new technology, and bigger-ticket items like real estate and automobiles. Once we are sure that our "needs" can be met, we will start to feel confident about taking care of our "wants".
Suggested by Cristina
| A Better Reality | +3.45
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People look to the outside world for cues on how the economy is doing. Many people are experiencing first-hand what it's like to be laid off, to make do with a smaller household income, and to struggle doing ordinary things they took for granted. Looking outward, the reality shows that friends and family members are also struggling and fearful. The stock market keeps going lower. I don't think we will have true consumer confidence back until things pick up in the economy and money is flowing more freely. Until then, we have to survive in a not-so-perfect reality.
Suggested by Cristina
| Ask the consumer | +3.18
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Consumer confidence will be different for every consumer. For those that have a low value for money, basically ignorance is bliss, so the less they know about any economy the more comfortable they are to spend. For those that highly value their money, consumer confidence for them is established when they anticipate some sort of a RETURN from the product they purchase. Whether that return is monetary or utilitarian, a careful consumer wants the most for their money. The biggest thing to consider in consumer confidence is INSURANCE. When a person makes a purchase they want insurance that their purchase will serve them well. This could come in the form of a guarantee on the proverbial box, or literal insurance from an insurance agency. With insurance comes REASSURANCE to the consumer that their purchase will not "bust the bank" and leaves them feeling comfortable to continue life as usual without having stress over their finances.
Suggested by Tim
| speed | +2.39
score |
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vroom
Suggested by PJ
| What their peers are saying & doing. It's a snowball effect. | +3.71
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If they know people who are getting laid off, they are worry that they're next. If they see sold signs on houses that have been for sale, they think now may finally be a good time to buy. If the parking lots are full and the check out lines are all long (not because there are too few cashiers), they think now is a good time to buy. By contrast, if the store is almost empty and there is only one cashier they get worried. If their friends are buying new furniture or appliances, etc., they think things are finally getting better. It's a snowball effect and the slightest thing can start the snowball rolling in either direction. No one thing does it. If enough small snowballs start going in the same direction, they start to coalesce and form a bigger snowball that is increasingly difficult to stop. In other words, its going to take lots of small positive signs coming from ALL different directions to turn this economic market around.
Suggested by Nancy
| The quality of advertising that promotes the product | +1.86
score |
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Producers invest more on advertising campaigns, the greater should be its promotion quality, you should consider an increase in product sales. Always remembering the three principles that govern the marketing: Price, Place, Publicity.
Suggested by vincenzo
| The Media |
$1.00 bounty |
+4.64
score |
Add A Comment |
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I watched as the Media controlled the depth of this depression for about six months merely by always putting a positive spin on what was happening until it was not even credible to continue doing so, it is problematic, we put far to much credence in what our six o-clock news anchor says then what we know should happen. We should also know that the economy moves up and down and expect the downturns as a way to trim unprofitable growth, this is capitalism.
Suggested by Andrew
| Stability | +3.05
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We fear the unknown, but when it appears that everything is in a steady incline of prosperity we decide to believe that the good times will continue indefinitely.
Suggested by Andrew
| Right now its our govenment | +2.52
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We need Obama and team to find a way to unite us as Americans (and the world) and make us all realize its all going to be ok. We had a rally in the market for about an hour today, then it was kicked down with more negative news. We need positive news on top of positive news..led by our "leaders."
Suggested by Lamar
| Faith | +2.79
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Faith that better economic times lay ahead inspires consumer confidence.
Suggested by Troy
| Economic Experts | +2.52
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Add A Comment |
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they have the best understanding as to the state of the economy and what is needed to fix it, so when they share that insight it boosts consumer confidence.
Suggested by Troy
| Transparency | +2.79
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Transparency in that consumers have insight and understand as to the state of the economy and the direction that it is heading.
Suggested by Troy
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