Recession Can Be a Marketer's Friend
The effects of the recession, or at least of consumers worried about the coming recession, are already starting to show. For example, according to a Citigroup Global Markets survey (covered by Supermarket News) 24% of consumers would shop for groceries at a
cheaper store than they do today if food prices continue to rise, compared with 12% who have already begun
doing so. 35% have been spending less on “splurge” items (wine, chocolate, etc.) and 30% have been trading down to less
expensive products (such as chicken instead of beef.)
Yesterday we covered the recession's effect on promotional advertising and, specifically, on coupon usage. But what about other marketing efforts, whether print or online? How can you survive through a recession or, even better, come out of it even stronger? Here are some articles we've collected from selected sources:
Posted by Universal Ad
Yesterday we covered the recession's effect on promotional advertising and, specifically, on coupon usage. But what about other marketing efforts, whether print or online? How can you survive through a recession or, even better, come out of it even stronger? Here are some articles we've collected from selected sources:
- Recession Can Be a Marketer's Friend -
Previous recessions have provided big opportunities -- spawning the
brand-management system, soap operas, modern cable networks, airline
loyalty programs, the IBM personal computer, the iPod, Crest
Whitestrips, Axe body spray and -- for better or worse -- fast-food
value menus.
But as any old-timer could tell you, quite correctly, today's
marketers don't know much about marketing through recessions -- or how
good they have it when things feel so bad.
- Digital Directions: A Road Map for an Uncertain Economy - It is likely that your competitors will cut their marketing spend,
thereby reducing their media presence. With a few adjustments in your
marketing plan, you have an opportunity to eclipse the competition
while remaining mindful of budget restrictions.
- Gartner Outlines How Digital Can Survive Recession - Restate the case for digital media, make the most of existing assets,
rethink your ad strategy and cut costs. Those are the steps prescribed
by Gartner in a new report that serves as a sort of survival guide for
online businesses during the downturn. Faced with an economy spiraling downward into recession and online spending at risk, what's an Internet executive to do?
- Recession-Proof Your Online Marketing - the article details the three steps required to make sure your online marketing efforts are optimized and recession-proof: turn analytics into customer insight, turn insights into action and then repeat.
- Brand Progression in a Recession - A recession can weed out weaker brands of lower quality and therefore
make category leaders even stronger. At the same time, value-based
brands can increase brand strength because they present the consumer
with a familiar name at a reasonable price. Also, during a sluggish
economy trusted store brands can appeal to budgeting consumers who
previously purchased a more expensive brand name product.
- Even at Megastores, Hagglers Find No Price Is Set in Stone - Shoppers are discovering an upside to the down economy. They are getting price breaks by reviving an age-old retail strategy: haggling. A bargaining culture once confined largely to car showrooms and jewelry stores is taking root in major stores
Posted by Universal Ad
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