One month in: checking in on my New Year’s resolutions

Jan 28, 2010

It’s rare that I actually make New Year’s resolutions at all, but this year I actually made some and even wrote them down. A page and a half later, I realized I have quite a lot to do this year.

Writing down one’s goals has a way of making them more concrete, and puts a little pressure on me to accomplish them. The good news is that, thus far, I’m doing pretty well! In reviewing my list, it strikes me how many of them touch on various aspects of marketing. I thought I’d share a few here.

I’ll spare you the ones that deal with losing weight, getting in shape, not procrastinating, and the like, and focus on the ones that deal with Marlene the Consumer. That said, even the weight-loss resolution one touches on consumerism: it’s already involved the purchase of a book (The Flat Belly Diet) and some exercise equipment (the Bender Ball), and likely will see me working with a personal trainer (a wise friend tells me boxing is the way to go). It’s no wonder that diet and fitness are a huge industry that has been marketing like crazy since the end of last year!

Here are a few of my other resolutions:

Eliminate all credit card debt.

For the majority of my adult life I never carried credit card balances and thought that that was a fate worse than death. Credit card debt is pretty stressful and a terrible waste of money. Now that my finances are not mine alone it has become my reality, but this is the last year of that nonsense.

Eliminating credit card debt will affect not just what and how much I buy, but how I pay for it. Credit card companies keep trying to lure me in with offers like double points on gas and groceries and the allure of frequent flier miles, but like many other consumers, I intend to increase the use of my debit card so that I can pay off my card balances without adding to them. (Also: so much for those impromptu emergency shoe purchases….)

Go to Jamaica.

My sister and I used to go to Jamaica at least once a year, but we haven’t been for nearly 3 years, what with having and paying for kids and the recent belt-tightening necessitated by the recession.

I’ve found it interesting to see how tourist destinations have been advertising in recent months and the ways they have positioned their destinations.

Jamaica has taken an emotional approach by positioning their offerings as an opportunity to revive your personal relationships — stressing the importance of taking the time to enjoy your loved one in an idyllic and romantic setting.

This kind of positioning makes the expense of a trip seem not like a frivolous beach trip — a luxury item that wouldn’t make the cut in recessionary budgeting — but an investment in your most important personal relationship. How could you not put that at the top of your spending priorities?

See at least one movie per month.

The film industry is one of the few industries that hasn’t been dramatically affected by the recession — at least in terms of ticket sales. Moviegoing is a relatively inexpensive form of entertainment, and a great alternative to more expensive outings like dinner, drinks, or clubs. I already have a huge backlog of films to catch up on seeing; since I see this as background for my work, it’s not purely entertainment, either.

Thanks to a nicely flexible academic schedule and great daycare, I’m hitting the matinees on a regular basis; hopefully I can score a date night here and there, too.

Do more service and donate.

The saying “to whom much is given, much is expected” is one we should all live by and I need to do better at fulfilling this. It is in companies’ best interest to do the same, so that we get a chance to feel better about our purchases and know that, at least indirectly, we’re doing some good.

At a time when dollars are scarce, many are getting a bit more selective about where we spend, and we really want to maximize. It makes us feel a little more warm & fuzzy when we know that some of the money we spent on a great Kenneth Cole jacket or a lovely Mac lipstick is going to help AIDS research, or that even our necessities like a pack of Pampers will send a few cents to help feed some children or a Yoplait yogurt will help in the fight against breast cancer. Once again, emotions trump economics.

Be a more savvy shopper.

I’m already coupon queen, and I take great pride in getting the best deals, taking advantage of special offers and taking money where retailers offer it.  2009 saw a great increase in retail incentives: friends & family sales from Gap stores, Lucky Brand, and others were more frequent than I’ve ever seen.

People are spending a little more freely than last year, when we all bolstered our saving, but retailers are still competing for more scarce consumer dollars. I’m happy to let them duke it out and strategically take advantage of the deals.

Be good to retailers who are good to me…and more vocal about the ones who aren’t.

This one deals with customer relationship efforts, customer service, and just meeting my basic expectations as a consumer. My dollars are more valuable than ever and I expect more for them.

While airlines are steadily raising fares and nickel-and-diming us out of more money for basics like luggage and legroom, they offer less and less in the way of service and amenities. Unfortunately, I don’t have a lot of choices when it comes to airline travel. There is a bit more competition when it comes to retail, though, so I am spending with the retailers that make me feel that they value me as a customer.

At some point soon I’ll do a whole post on customer service and loyalty, but, in a nutshell, the companies that treat me well will get my hard-earned and more closely-watched dollars. Those who mistreat me hear from me; it’s also in their best interest to read my online ratings/feedback on independent websites and blogs. Word gets around in a small cyber-world. It just makes sense to take advantage of technology to make my voice heard, in addition to responding with my dollars.

On the flipside, retailers clearly made early resolutions not to get caught with too much inventory and deep discounts this year like they did last holiday season. I was terribly disappointed with the lack of inventory and half-hearted discounting as I did my holiday shopping at the end of last year. In 2008, I was calling my sister telling her “get to Saks immediately; they’re giving stuff away!” This year I was asking, “When do the real sales start?” I suppose this is helping me keep other resolutions, like #1, but it’s no fun.

What are your resolutions for 2010, and how have they been treating you so far?





Marlene Morris Towns is an Assistant Professor of Clinical Marketing at USC Marshall. She has published papers in journals including the Journal of Consumer Affairs, Journal of Marketing, and Marketing News. She serves as a reviewer for the Journal of Consumer Research, the Society for Consumer Psychology, and the Association for Consumer Research, among other, and has consulted for organizations including AT&T, PepsiCola, Exxon Corporation, the New York State Attorney General’s Office, and the U.S. State Department. Marlene holds a Ph.D. in Marketing from Duke University.

Comments
Anonymous commented on 01-May-2010 03:54 PM
I remember your big belly in elementary school. Wow you still have it.
Anonymous commented on 01-May-2010 03:55 PM
I remember your big belly in elementary school. Wow you still have it.

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