When the going gets tough, ads become straightforward but multi-appealed: The influence of the recession on financial services advertising appeals

Hongmin Ahn, Young A. Song, Youngjun Sung

Research output: Contribution to journalReview article

12 Citations (Scopus)


Although many scholars and researchers have contributed to the sizeable literature on the relationship between advertising and society, few have examined economic circumstances as a meaningful force shaping advertising. This study provides the empirical evidence that changes in economic conditions, the recession in particular, can transform advertising appeals. The analysis of 1488 financial services ads placed in two popular US magazines showed that the patterns of appeals have turned to direct assertive styles in the wake of the economic crisis of the period 2008-2009. At the same time, however, ads during this recession period have used a far wider variety of strategic and tactical appeals than those in pre-recession era.

Original languageEnglish
Pages (from-to)230-243
Number of pages14
JournalJournal of Financial Services Marketing
Issue number3-4
Publication statusPublished - 2011 Dec 1
Externally publishedYes



  • advertising appeals
  • content analysis
  • financial services sector
  • recession

ASJC Scopus subject areas

  • Finance
  • Marketing

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