A recovering global economy coupled with a natural disaster is not a good mix. Especially for those in marketing.
When every company is cutting costs, how can marketing strategist deal with it?
“There are four areas of consideration:
1) what are the standards of success in a down market
2) which products should be supported by marketing when budgets are tight;
3) which messages will resonate; and
4) which media will provide the biggest bang for the buck?”
Personally, I think these areas for considering should be used regardless of the company and economical conditions.
This insightful Forbes article examines the psychology of consumers during a recession. The ideas outlined in this article are both practical and realistic.