Marketers Advised To Be Flexible During Recession
December 24, 2008
By the My MBA Career Content Team – Find Top MBA Degree Programs
A New Jersey marketing professor is reminding entrepreneurs of the importance of flexibility during the current recession as they struggle to stay ahead of their competition.
Adjunct marketing professor Jennifer Gushue told the Camden (NJ) Courier Post newspaper that marketers should watch other companies that have adapted in the recession to keep their customers' attention. One example she cited was McDonald's, which has played up its value meal at a time when many consumers are budgeting more tightly than ever.
"Marketers need to constantly reevaluate their marketing strategies and adapt wherever possible to the challenge of the financial landscape. Not keeping track of their consumers' financial struggles will lead to a company facing a huge drop in demand and eventually obsolescence," Gushue told the newspaper.
She was also quoted as saying that more consumers are interested in coupons than before, which means companies can adapt by offering online coupons and trying other such strategies like online social networking sites.
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Related Article Topics: Marketing | Management
