| Promotions have damaged UK brands |
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A majority of UK companies believe discounting policies executed in the recession have damaged brand equity, a study has found. Professional services specialist KPMG surveyed 200 executives from the country's 500 largest corporations, and estimated some £20bn ($32.5bn; €23.5bn) in profits may have been lost as a result of strategies implemented during the downturn. "Firms reacted very quickly to the financial crisis and went in to near-panic mode, discounting prices across the board without fully understanding the impact on demand or profitability," the study said. Read more |
