As we know that around the globe downurn and recession are the most discussed word today and how much it continues, it will be a prediction only and different from one to another.
But what should be the strategy of marketing department of comapnies?
According to me in this recession companies should bear this factor while making their marketing plan for 2009-2010.
1. Maintain marketing spending.
This is not the time to cut advertising. It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at lower cost than during good economic times. Uncertain consumers need the reassurance of known brands, and more consumers at home watching television can deliver higher than expected audiences at lower cost-per-thousand impressions. Brands with deep pockets may be able to negotiate favorable advertising rates and lock them in for several years. If one have to cut marketing spending, then they should try to maintain the frequency of advertisements by shifting from 30-second to 15-second advertisements, substituting radio for television advertising, or increasing the use of direct marketing, which gives more immediate sales impact, wom can be also used
Do you agree with this or not? you can shar e your views bye getting revert to us
