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John Rose's Blog

When The Going Gets Tough, The Tough Get Better

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I recently posted (in three parts) an article I wrote for The Moscow Times and Vedomosti (Russian joint venture of Wall Street Journal and Financial Times) about three opportunities for marketing during a recession.
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Marketing During A Recession - Opportunity No. 3

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OPPORTUNITY NO. 3: CUSTOMERS EXPECT A DEAL DURING A RECESSION. People know companies are under pressure and will expect them to react to the recession with superior products, special offers and better service to win their business or get them to buy during a recession. You don’t want to disappoint them. But unless you run a volume business where you plan to always be the price leader, you shouldn’t feel obliged to lower your prices to win business during a recession. Sure, discounts will move inventory today, but it may come at a high cost in the future through the loss of brand value. The key is to give your customers more rather than charge them less.
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