How should marketers adjust their strategies and tactics for an economic downturn or recession?
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How should marketers adjust their strategies and tactics for an economic downturn or recession?
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How should marketers adjust their strategies and tactics for an economic downturn or recession?
- 1. Competitive Dynamics How should marketers adjust their strategies and tactics for an economic downturn or recession?
- 2. Marketing in an Economic Downturn Ways of
- 3. Explore the upside of Increasing Investment WAY1
- 4. • Increased Marketing Expenditure in 2009 by 16% • Revenue Increased by 8% • Operating Profit increased by 4%
- 5. Get Closer to CustomerWAY 2
- 7. • Weed out underperforming Distributors • Incentives provided to motivate the most effective product seller
- 8. Put forth the most compelling Value Proposition WAY 4
- 9. Price Reduction and Sales are a BIG Mistake at such times
- 10. WAY 5 Fine-tune Brand and Product Offerings
- 11. Luxury Brands benefits from Lower-Priced Brands in their portfolio
- 12. These slides were created by Archit Raj, IIT Delhi, during a Marketing internship by Prof. Sameer Mathur, IIM Lucknow (See www.IIMInternship.com )