“Anxiety marketing” on the rise

Lose your job, return what you bought without any penalties on your credit score.

We first saw it with Hyudai when they started a campaign to entice buyers to hook up with the latest models in their fleet. And it works. Hyundai saw a sales jump while all the other US automakers and dealers were closing shops due to the crisis.

Now other companies like airline JetBlue and homebuilders Ryland and Lennar are jumping into the bandwagon. JetBlue offers full refunds on plane tickets booked by year’s end and Ryland and Lennar offers coverage for mortgage payments within 24 months of a home purchase.

CNN dubs it “anxiety marketing” and we think it’s rightfully so. The best deals for the paranoid. And that’s what the public is these days. Who would want to risk credit scores in this financial climate?

What these companies are doing are quite risky. Sure they shore up their brand preference points but who knows if their offerings turn out to be unprofitable due to some weird stroke of fate.

While these claims sure make these people look like the good guys, keep in mind that these are product and marketing strategies. Read the fine print before signing.

Related posts:

1. Marketing restrictions for credit cards coming soon
2. Multilevel marketing: your choice
3. Personal bankruptcies still on the rise
4. Suburban homeless households on the rise
5. Google quarterly profit rise