People buy more safely but they don't stop spending in a downturn. Original products and services will always hold up better than those that can be easily substituted by cheaper version. If you are not in the game, your competitor will be.
People buy more safely but they don't stop spending in a downturn. Original products and services will always hold up better than those that can be easily substituted by cheaper version. If you are not in the game, your competitor will be.
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People buy more safely but they don't stop spending in a downturn. Original products and services will always hold up better than those that can be easily substituted by cheaper version. If you are not in the game, your competitor will be.
Direitos autorais:
Attribution Non-Commercial (BY-NC)
Formatos disponíveis
Baixe no formato PPT, PDF, TXT ou leia online no Scribd
Oh my, the sky is falling and we are in an economic downturn.
It’s on the news and it is in the papers. Everywhere I turn we hear of the downward spiral of our economic state. I know what you are thinking; it's time to cut that marketing budget. Signs of recession are all around us.
Let's start slashing costs and marketing is the first
to go… Makes sense, right? No Sir, Keep calm and carry on Marketing Reasons to continue marketing… People do not stop buying in a downturn.
If you will be out of sight, you will be out of
mind.
Let your customer knows that you are in his
side.
You need to adapt to changing market and
customer needs.
Other alternatives like discounting can destroy
your business Main Ideas Discussion and Assessment Discussi on: It is pointless to wait patiently for everything to go back to how is was before. People buy more safely but they don’t stop spending. We need to think more about need and less about want. A Original products and services will always hold up lasti better than those that can be easily substitute by ng cheaper version. Assessme lega People are more likely to switch brands as they nt: cy Build afor search new marketing better deals. process model in response to the new marketing situation. Understand new marketplace needs. Design new customer-driven marketing strategy. Construct new integrated marking programme. Maintain customer delight. Maintain customer equity. Main Ideas Discussion and Assessment Discussi on: Reducing marketing budget result in less profit visibility and may take many years to correct. Robust marketing strategy can carry you Visibility through difficult times. If you are not in the game, your Assessme competitor will be. nt: Maintain better marketing management orientation by following more effective marketing concept.
important to do what is strategically right than what is immediately pro
Main Ideas Discussion and Assessment Discussi on: Consider more own-label products and find ways of reducing price without compromising quality. Ex: Sultan Center Trade up and down but do not trade out “We’re on your your product. Ex: Nastle Co. Side” Be closer to your customer. Assessme nt: Understand marketplace and customer needs through continuous market analysis. Target more sub-segment by according to Behavioral – benefit segmentation. Reposition your product in a category of the same nger enough to satisfy your for less.You must delight them.” customers. Main Ideas Discussion and Assessment Discussi on: Differentiate yourself. Help your customers to spend wisely. Changing your focus interest of association with your brand. Diffe Generous return Polices and expand renti customer service hours. ate Assessme and nt: Use Service Differentiation . Adap t Adapt Image Differentiation. Reposition your product between the competitors. Differentiate the market offering to create superior customer value. hannels for different target markets and aim for efficiency, control, and Main Ideas Discussion and Assessment Discussi on: Cutting budgets will help in very short tem only. The brand will emerge weaker. Maintain your share of voice SOV at or Don’t above share of Market (SOM). count on discountin Assessme g nt: Develop long term relationship with customer. Build Customer value proposition.
“Sell value, not price.” Philip Kotler
Main Ideas Discussion and Assessment Discussi on: Technology gave us the opportunity to have full control on the WHO, WHEN, HOW. Technology enables marketers to connect with more customers, respond more quickly and effectively to the customer (Facebook, Technolog twitter, …) y It helps customer to receive most relevant information at the right time Allows the provider to understand the personal and detailed behavior of their customers. Assessme nt: Expand marketing model to include cost efficient and effective way of marketing communication. The internet will create the winner and bury the laggards.” Philip K Kuwaiti Environment Kuwaiti Market Example: International Turnkey Systems (ITS) Adapt & Differentiate: During recession, GCC private sector organizations held their cash and stopped investing on new projects, in the contrary comparison
public sector organizations (GCC
governments) has budget surplus because of the constant growth of the Oil prices. As result of that, International Turnkey System (ITS) www.its.ws focused marketing on IT Higher Education Business Segment because most of Universities in GCCs are public and enjoying financial support from the governments. In addition to the annual “Users Group” on Dubai, ITS conducted extensive marketing companions with current and potential Universities. Achievemen ts: Adding 10 new Universities in GCC to ITS portfolio. Gain maintenance contracts from 5 existing universities from GCC.