Multilingual Business Communication

October 23, 2008

Fortis celebrates!

Filed under: crisis communication, Lana Robignon — meertaligebedrijfscommunicatie @ 11:25 am

In times of economic recession, panic reactions and all-round anxiety, some peculiar news reached our ears in the last couple of weeks. Whilst Fortis needed to be bailed out by not only one, but three governments for a mere sum of 11 billion Euros, Fortis Insurance Belgium thought it to be a good idea to go through with their planned exclusive culinary event. This networking event took place in the most expensive hotel of Monaco, with a price tag of 150.000 Euros.

Fortis’ reaction was clear: the trip to Monaco was planned months before the crisis burst out and was part of a commercial action. Marketing communication in hard times. It is true that Fortis can definitely use some good commercial actions to generate cash flow. They’ve put the idea “you have to spend money to make money” into practice.

This raises the questions: which group of stakeholders is more important to Fortis: the big investors or the average Joe in the street? This event may have appealed to 50 big investors, but what effect will this have on the general public? Does this restore the confidence? Blog reactions all over the internet may suggest that this situation hasn’t done the reputation of Fortis any good.

An effective marketing communication strategy in order to attract new investors or hypocritical behaviour that alienates clients?

(Lana Robignon)

http://www.demorgen.be/dm/nl/996/Economie/article/detail/446299/2008/10/10/Fortis-feest-in-Monaco.dhtml

 

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1 Comment »

  1. I think you made a good choice with this topic. I very much like you subtle, sarcastic style of writing, but you have to be careful with questions. If you utter criticism only through questions, it can become a bit boring. It is also very safe.

    In times of economic recession, panic reactions and all-round anxiety, some peculiar news reached our ears in the last couple of weeks. Whilst Fortis needed to be bailed out by not only one, but three governments for a mere sum of 11 billion Euros, Fortis Insurance Belgium thought it to be a good idea to go through with their planned exclusive culinary event. This networking event took place in the most expensive hotel of Monaco, with a price tag of 150.000 Euros.

    Fortis’ reaction was clear: the trip to Monaco was planned months before the crisis burst out and was part of a commercial action. Marketing communication in hard times. It is true that Fortis can definitely use some good commercial actions to generate cash flow. They’ve put the idea “you have to spend money to make money” into practice.

    This raises the questions: which group of stakeholders is more important to Fortis: the big investors or the average Joe in the street? This event may have appealed to 50 big investors, but what effect will this have on the general public? Does this restore the confidence? Blog reactions all over the internet may suggest that this situation hasn’t done the reputation of Fortis any good.

    An effective marketing communication strategy in order to attract new investors or hypocritical behaviour that alienates clients?

    Marilyn Michels

    Comment by meertaligebedrijfscommunicatie — November 16, 2008 @ 7:11 pm


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