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John Rose's Blog

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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Marketing During A Recession - Opportunity No. 2

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OPPORTUNITY NO. 2: MANY COMPANIES WILL TAKE A WAIT AND SEE ATTITUDE DURING A RECESSION. They will freeze or cut marketing budgets until they have a clearer picture of what lies ahead. This will have the knock on effect of lower media costs. The smart companies will become more aggressive while their competitors have their heads in the sand and they can get more for their marketing spend. Now is the time to be creative and get some attention for your company and brand.
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Marketing During A Recession - Opportunity No. 1

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The looming crisis in Russia will cause many marketers to reevaluate budgets, strategies, and relationships. Though there may be many challenges ahead for companies as they face the prospect of slower growth and pressure on margins, there is a silver lining in that black cloud. During the last financial crisis in Russia a decade ago, some companies took advantage of falling media costs and slow-to-react competition to capture market share and set the stage for strong future earnings. There are several opportunities for marketing during a recession. Here is the first.
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