As the New York Times points out, “The biggest challenge, executives say, is trying to keep up with the stunning economic and financial events and the resulting mood swings, as evidenced by the roller-coaster ride from the despair of Wednesday to the euphoria of Friday. All that makes it difficult to determine how to best persuade shoppers to open their wallets.”
The newspaper reports that New York Life, an insurance company, last week asked their agency, Taxi, to create a new round of ads to play up the company’s reliability in the aftermath of the AIG meltdown.
Similarly, the Wall Street Journal says, Oppenheimer Funds has scrambled to change up some of its advertising plans, pushing back two spots.
Those two ads are “more about taking proactive steps to adjust a portfolio and make an investment decision, and I think at this point we need to wait a few weeks,” says Bruce Dunbar, director of corporate communications at Oppenheimer. Right now, Mr. Dunbar says, “people will be thinking about how they are going to readjust in the short term, versus thinking about long term.”