Companies have not taken advantage of this time to promote their brand. The economy appears to be stabilizing. Prices will begin to creep up and then companies will want to regain market share. Warren Buffet, the great investor and owner of Berkshire Hathaway always used a great line… You can’t wait until you see the Robin because spring is already over…
Taking advantage of a down economy has proven successful for many companies in the past. I read a great article about how Post & Kelloggs decided to approach marketing & advertising during the Great Depression (there were several. http://bit.ly/2Jgody )
Post decided to cut its ad budget and Kelloggs decided to double its ad budget. In the mid 30’s after the economy stabilized, Kelloggs had planted the seeds that gave it a 30% increase…and a dominating position…
In a lot of ways it makes sense.
1. The idea is to buy low and sell high. Well it is not hard to find a deal out there right now.
2. The noise is lower. Fewer people are in the market. It is all about standing up and standing out.
3. Look for alternate media. Be creative and look for new ways and ideas to promote your brand.
What ways did you take advantage of this opportunity? What ways can you still take advantage of this market?
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