Wednesday, September 2, 2009

Tips of the week

MARKETING IN A RECESSION

1.Introduce new products and Services:
The customer will be bored and critical of the much viewed range of your products. Change the packaging, bring brand extensions, introduce new product variants and lines, add new services to add to product excitement to get the customer’s interest back.

2.Enhance Customer Connectivity:
Customer is elusive and evasive, find reasons to be with him, to know his fears, find out his apprehensions and his issues and tailor your pitch to allay his fears and make him perceive you as a solution to his problems.

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3.Build Up Product Value:
Recession makes customers more choosy and demanding. Give them extra in volume and quantity. Add more features to the product. Give incentives for repeat buying. Develop new uses and more usage for the product.

4.Use more PR and publicity:
Substitute other promotional options with more publicity, like interviews, articles, press conferences. Look at co- branding with social organizations to push up your image.

5.Introduce new price points:
Customers are price sensitive but donot get into the temptation of reducing prices randomly. Try to add value to your existing brand by offering extra services and try to cover other important price points by rebranding or introducing new brands without devaluing your existing brand.

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Coaching and Counseling

Please write about any professional or personal issue you are facing on which you want coaching. If you want to keep it confidential just write anonymously and give an email address we can respond to.
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The Weekly Debate

From now on i will add weekly debates in my blog.

This Weeks Debate:

Are leaders born or made?

Please share you views in the comments below.
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