[Marketing Trend Watch] Top Word for 2010: Austerity

Merriam-Webster just released a listing of the top 10 words searched on their website's free online dictionary tool during 2010 and the winner was austerity , with more than 250,000 searches.

As a 14th century noun, austerity is defined as "the quality or state of being austere" and "enforced or extreme economy."  and the selection of "austerity" as the Word of the Year comes as no surprise to the Springfield, Massachusetts-based publisher.  

"Austerity clearly resonates with many people," said Peter Sokolowski, editor at large for Merriam-Webster. "We often hear it used in the context of government measures, but we also apply it to our own personal finances and what is sometimes called the new normal."

Studies done on companies that thrived during the Great Depression , demonstrate that those enterprises that continued spending on marketing were more successful than those who cut back on their budgets.

As a marketing professional or business owner, are you planning for an austere 2011?  Does your positioning, messaging and image reflect both the current and changing economic environment?  Are you over-delivering on your products and services to build long-term loyalty and repeat sales? 

How will you make the most of your marketing budget in 2011?