Monday, March 23, 2009

Strategic Solutions During an Economic Downturn

During periods of downturn, consumers view the economy as uncertain and risky they delay buying durable goods and switch to buying basics rather than luxury items and generally become more prices sensitive.

The challenges of inflation and downturn go hand in hand yet downturn requires different marketing strategies.

The benefits of a downturn
A recession helps companies streamline their operating practices and procedures and improve customer service
It is a good time to prune unprofitable items from the product line
This is an excellent time to build market share because some competitors are struggling to make ends meet

Intelligent, astute marketers can find opportunities to exploit during downturns. They utilize skilled
Strategic tactics to position you ahead of your competition and ensure success.

Strategic Tips
· Improve existing products and introduce new ones
Customers with less to spend will seek quality, value for money, durability and satisfaction to make their money go further
· Maintain and expand customer service
Add a unique service that has not been offered previously
Emphasize your product value.
· Use special offers to stimulate demand
Special pricing tactics are necessary
Make the demand for your product or service ‘unbelievable’ and “unprecedented
· Target New market segments
As consumers ‘trade down” during downturn periods appealing to more price sensitive customers will make your company prosper

Strategy is about the art of winning the work you do to ensure organizational success

T: 0027 11 883 3036 C: 0027 73 607 0437 E:

About Me

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Johannesburg, Gauteng, South Africa
Believing strongly in Intelligent, cost effective Marketing and Brand strategies, Nadia Lang +27 (0)73 607 0437] is a prolific strategist, marketer and brand developer. Nadia has two passions: strategy and brand building. She has a BSc honors degree and a management degree cum lade marketing and strategy; at 21 she satisfied the first by strategically planning and managing her own small business. After university, she became a full time marketer with a vision to create a one stop, cost- effective solution for all your marketing needs. Today, as part of her day job, Nadia focuses on corporate and creative marketing and branding, with an emphasis on strategic marketing and planning to meet objectives, gaining market share, building and sustaining long term brand equity, corporate profiling, websites, marketing campaigns, newsletters, ads, brochures, sales letters, multimedia proposals and presentations and communication channel creation.