Recession Marketing – Path to Sustainability - Copy

8/3/2019 Recession Marketing Path to Sustainability - Copy

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Recession MarketingRecession Marketing

PathPath to Sustainability forto Sustainability for

IndianIndian CompaniesCompanies

Ankit Shah

Asst. Prof.

K. P. PatelSchool ofMngmt & ComputerStudies (KSMCS)Kapadwanj

Mobile No: +91 98 243 74 222

E-mail: [email protected]


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Recession & Its ImpactsRecession & Its Impactsy Recession can be defined as a phase

of general economic decline;

y Its impact would be on

Employment

Business

Social Effects


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TEN Indian Industry Sectors toTEN Indian Industry Sectors to

Perform Well in RecessionPerform Well in Recession

Food

PSU Banks

Railways

Education

Telecom

IT

Health Care

Luxury Products

Mktng Cnslts

Media


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DilemmaDilemma--

To Spend or not to SpendTo Spend or not to Spendy Brand-building is a long-term proposition

y Its important to protect share & ideally to

boost ity Tough times can open up opportunities

y Theres less noise

y Absence is often damaging, and more costly

in the long runy Advertising should be considered an

investment, not merely an expense


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Recession Marketing StrategiesRecession Marketing Strategiesy Research Customers Insights

y Emphasize Family Values

y Snatch market share

y Invest in Marketing

y

Cut Costs


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Recession Marketing StrategiesRecession Marketing Strategiesy Re-Align Product Portfolios

y Support distributors

y Adjust Price Points

y Partner your stakeholders

y Emphasize Core Values


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Recession Marketing StrategiesRecession Marketing Strategiesy Improve Brand Value Proposition

y Have EmpathyTowards Customers

y Trade Up or down

y Reinforcing Best Selling Brands

y Repricing


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Marketing Strategies SynthesizedMarketing Strategies Synthesizedy Market mix strategies

Withdraw from weak markets

Fortify in markets where brand is strong Acquire weak competitors

Consider non-Asian and youth markets

Consider resale market for durable products


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Marketing Strategies SynthesizedMarketing Strategies Synthesizedy Pricing strategies

Improve quality while maintaining price

Reduce price while maintaining quality Avoid reducing quality and price

Consider product life cycle pricing


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Marketing Strategies SynthesizedMarketing Strategies Synthesizedy Product strategies

Prune weak products

Avoid introducing new products to fill gaps

Adopt adaptive positioning

Concentrate on simple and durable products

Augment products with warranties


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Marketing Strategies SynthesizedMarketing Strategies Synthesizedy Distribution strategies:

Location is still important

Sell in discount and wholesale centres

Prune marginal dealers

Consider alternative channels


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Marketing Strategies SynthesizedMarketing Strategies Synthesizedy Promotion strategies

Maintain advertising budget

Increase use of print media

Provide assurances through rational appeal

Use expert endorsements & satisfied-customer testimonials

Avoid celebrity endorsements

Capitalize on public relations

Use discounts and premiums, not contests and lucky draws

Introduce customer loyalty programmes


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Concluding..Concluding..y Though the way is there for all Indian

firms to escape from the adverse effectsof recession, it is not so easy. It requirestremendous effort, cultural transformationand change in outlook.

y The ideal for any company is to become,

the paradigm shifter in its industry-tospring surprises at players and never betaken by surprise.


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Reach me through

Mobile No: +91 98 243 74 222 or

E-mail: [email protected]

Recession Marketing – Path to Sustainability - Copy

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