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Times of crisis are dangerous moments for brands. Often hasty decisions are made and result in actions that could potentially harm their brands in the long term. We are facing an extraordinary turbulence resulting from the global economic recession. We must be vigilant, not being caught in the maelstrom of uncertainty.
Companies that manage to take this time of crisis as an opportunity to grow their busines will gain valuable competitive advantages. Since brands are the most important asset a company owns, companies that focus on their brands and identify opportunities to continue building brand equity during this period are companies that emerge stronger from crisis.
From our experience in the Asian economic crisis in 1997, and numerous projects with our customers during the current crisis, we identify the nine critical success factors that can help a company and its brands to take advantage of turbulent times.
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