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Marketers should explore increasing investment during an economic downturn to gain market share from competitors. They should get closer to customers to understand how to provide the most compelling value proposition during tougher times. A review of budget allocations may be needed to focus spending on the most impactful marketing activities that support adjusting the brand and fine tuning product offerings for the economic conditions.
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How should marketers adjust their strategies and tactics
Marketers should adjust their strategies for an economic downturn by exploring increased investments, reviewing budget allocations, getting closer to customers to understand their needs, putting forth compelling value propositions, fine tuning their brand positioning, and ensuring the right product offerings. They should seize opportunities while learning more about customer behaviors and needs to provide sufficient value.
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Make Oil & Gas Great Again Series: Does Your Company Return Its Cos of Capital?
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David Lankelevich of E Marketer presented Seven Strategies for Surviving the Downturn at the Austin American Marketing Association (AMA) monthly Power Lunch Series on January 15, 2009.
Interested in more marketing programs and networking? Visit the Austin American Marketing Association website (www.austinama.org) for coming events and the AMA blog (www.austinama.org/blog) to be a part of the conversation.
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How should marketers adjust their strategies and tactics
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I’m a firm believer that challenges open doors to opportunities, and opportunities bring innovation with possibilities to further advance and emerge as a leader -- as many brands did during the Great Depression.
As eMarketer CEO/co-founder Geoff Ramsey puts it, “Consumers are still consuming.” They are still out there, looking for deals and recommendations to make product choices. They are relying on all available resources to find what is right for them. For marketers, the good news is there are more options than ever to make a connection with customers. Our goal at Fuel for Thought is to share these strategies and fuel ideas that will deliver growth and innovation for businesses.
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If you are interested in discussing these findings further or to explore the changes your organization should consider to improve the likelihood of success in 2009, please contact me.
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This document provides an overview of strategic management and competitive dynamics. It discusses the strategic management process, which includes strategy formulation, implementation, and evaluation. Key aspects of strategy formulation are analyzing external opportunities/threats and internal strengths/weaknesses, developing long-term objectives and strategies. Porter's Five Forces model is also summarized. The document then discusses competitive dynamics, including analyzing competitors, drivers of competitive actions, strategic vs. tactical moves, first and second movers, and how organizational size, reputation, and market cycles impact competitive behaviors.
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Preserve the luxury or Extend the brand?
This document discusses a proposal to change the business strategy of Chateau de Vallois, a family-owned wine estate. There is disagreement among stakeholders on whether to enter the affordable luxury wine market. While Clare de Valhubert supports expanding into new markets, Gaspard de Sauveterre and Francois de Sauveterre worry this will damage the brand's reputation. Experts caution that the estate lacks experience in mass marketing and managing multiple brands could distract from their core business. The document recommends creating separate business units and boards to oversee traditional and new brands to minimize risks to the estate's reputation.
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This document discusses key learnings from various modules related to communication, presentations, new product development, and marketing strategies. It provides tips for effective presentations that are well-prepared, engaging, and avoid unnecessary elements. It also outlines stages of new product development from idea generation to commercialization. Global market entry strategies and the need to balance global integration with local responsiveness are examined. Case studies of Dove's real beauty campaigns and the evolution of its branding are presented.
Summary
This document provides an overview of key learnings from various marketing modules, including communication strategies for presentations, new product development processes, international market entry strategies, and brand management techniques. It discusses concepts like the innovation imperative, new product success and failure factors, global pricing approaches, and marketing mix adaptation across countries. Case studies of Dove's real beauty campaign and Mountain Man beer's market expansion are analyzed. The importance of customer relationship management and building brand value through innovative initiatives is also highlighted.
Steinway & sons:buying a legend
it is based on case study of harvard business school.
These slides were created by sanket badhe, as part of an internship done under the guidance of Prof. Sameer Mathur (www.IIMInternship.com)".
Case analysis
Grey Worldwide Hong Kong and China developed a customer relationship management (CRM) strategy called Grey Relationship Management (GRM) to reposition itself against increasing competition. GRM integrated traditional marketing with new technologies to provide a customized, Asia-specific CRM process. It aimed to build customer loyalty and differentiate Grey by managing knowledge and executing a customer-focused strategy. Implementing GRM required transforming Grey's culture, processes, skills and metrics to fully adopt CRM across the organization.
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This document discusses Grey's strategy to implement CRM (Customer Relationship Management) in Asia. Some key points:
- Grey lacks an integrated customer database but has an existing customer base, brand strength, and no legacy systems, allowing new CRM tools.
- CRM will provide a holistic customer management approach through specialization, data mining, profiling key customers, and tools like "Brand Futures+" and "CRM Charter".
- Grey will leverage its existing customer database, brand equity, and technology capabilities to capture the Asian e-marketing opportunity and redefine customer value through account managers and knowledge integration.
- The CRM strategy involves building an organizational culture with CRM orientation, training staff for
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Finding the Upside Of Downturn
There are opportunities to be found in a recession. Think creatively and positively and strengthen your business for the future!
How should marketers adjust their strategies and tactics for an economic down...
The document provides 5 ways for marketers to adjust their strategies during an economic downturn or recession. These include: 1) increasing marketing expenditure to boost revenue and profits, 2) getting closer to customers to better understand their needs, 3) reviewing budget allocations to cut underperforming distributors and incentivize top sellers, 4) putting forth compelling value propositions rather than price reductions which are a mistake, and 5) fine-tuning brand and product offerings such as having luxury brands and lower-priced brands.
Finding The Upside In The Downturn Cme 4 June09 V F
The document summarizes the current economic downturn and its impact on the chemical industry. It notes that until 2008, the chemical industry was doing well financially but the global financial crisis created difficult conditions described as a "perfect storm." It suggests that tough times will continue through 2009 and full recovery may not occur until 2012-2013. However, it also argues that the downturn presents opportunities for companies to change their strategies and business models in ways that could improve their competitive positions long-term. Mergers and acquisitions may continue to impact the industry as companies adapt to the new environment.
Fuel for Thought: Seven Strategies to Surviving the Downturn
The power and versatility of today’s online capabilities provide numerous new ways for marketers to tackle the economic downturn, diminishing budgets and changes in consumer habits that are happening everywhere. Many companies/brands have already cut back on their marketing/advertising efforts, while others are taking this moment to reassess, reinvent and revitalize their brands/companies.
I’m a firm believer that challenges open doors to opportunities, and opportunities bring innovation with possibilities to further advance and emerge as a leader -- as many brands did during the Great Depression.
As eMarketer CEO/co-founder Geoff Ramsey puts it, “Consumers are still consuming.” They are still out there, looking for deals and recommendations to make product choices. They are relying on all available resources to find what is right for them. For marketers, the good news is there are more options than ever to make a connection with customers. Our goal at Fuel for Thought is to share these strategies and fuel ideas that will deliver growth and innovation for businesses.
How should marketers adjust their strategies and tactics for an economic down...
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms for those who already suffer from conditions like anxiety and depression.
Low Cost Marketing Strategies
The document provides 10 low-cost marketing strategies for small businesses, beginning with establishing the key rules of marketing: know your customers, focus your messaging, and prioritize retaining existing customers. It then outlines specific tactics including getting customer referrals and testimonials, public relations outreach, search engine optimization, social media engagement, and providing educational resources to customers.
IDC 2009 Sales Barometer & Top Ten Predictions
IDC presents its Top 10 Predictions and an overview of our key findings & recommendations regarding the challenges of selling in 2009. Based on extensive primary research, IDC finds that technology organizations are cautiously optimistic and that high performing sales organizations are shifting investments from direct sales and some training to inside sales, better lead qualification, demand generation and sales enablement.
If you are interested in discussing these findings further or to explore the changes your organization should consider to improve the likelihood of success in 2009, please contact me.
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This document provides an overview and outlook of the global offshore oil and gas industry following the economic recession. It discusses factors influencing the offshore market such as increasing global energy consumption and the cyclic nature of oil prices. The financial implications for the offshore industry are also examined, noting growing investment in deepwater and horizontal drilling while fleet utilization does not yet require additional rigs. The outlook for offshore energy vessels is cautiously optimistic, with demand for rigs and support vessels increasing but the market remaining cautious about new builds. The conclusion is that as onshore reserves deplete, offshore exploration and production will extend into new basins, creating opportunities for industry growth.
Chapter 11 competitive dynamics - dealing with competition COMPLETE
This document discusses various competitive strategies for market leaders and challengers. It provides examples of how companies in different industries such as fast food, banking, and healthcare have implemented strategies like expanding their customer base, protecting market share through continuous development, and adapting their positioning across a product's lifecycle. The document also discusses strategies for companies during an economic downturn, including increasing value appeals to customers.
Ch 11 competitive dynamics14e
The document discusses competitive dynamics and strategies for different types of competitors in a market. It explains that market leaders can expand the total market and defend market share through continuous innovation, proactive marketing, and defensive marketing. Market challengers can try to gain market share through general attack strategies like frontal assaults or flanking maneuvers, and specific strategies such as lowering prices or improving distribution. Market followers adopt strategies like duplication, emulation with variation, or modification to hold onto their share. Market nichers focus on creating, expanding, and protecting small market segments not pursued by other firms.
Competitive Dynamics Marketing Management
This document discusses various marketing strategies that companies can employ at different stages of the product lifecycle and during economic downturns. It explains how market leaders can expand total market demand through new customers and more usage. It also outlines strategies for market challengers to attack leaders, and approaches for followers and nichers to compete effectively. During economic downturns, the document recommends that marketers increase investment, get closer to customers, review budgets, focus on value, and fine-tune brands and offerings.
Strategic management and competitive dynamics
This document provides an overview of strategic management and competitive dynamics. It discusses the strategic management process, which includes strategy formulation, implementation, and evaluation. Key aspects of strategy formulation are analyzing external opportunities/threats and internal strengths/weaknesses, developing long-term objectives and strategies. Porter's Five Forces model is also summarized. The document then discusses competitive dynamics, including analyzing competitors, drivers of competitive actions, strategic vs. tactical moves, first and second movers, and how organizational size, reputation, and market cycles impact competitive behaviors.
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More from Sameer Mathur
Creative that cracks the code
The document discusses 6 advertising campaigns that were successful due to having a clever core idea. It provides examples such as the Mauka Mauka cricket meme ads in India and Kia's hamster car ads. The document advocates that ads should be entertaining but not too entertaining, as excessive entertainment can reduce persuasiveness. It also discusses how some campaigns used user engagement and participation, such as Oreo's daily cookie designs and Project Shiksha in India to educate children. The document concludes by discussing how some content providers strategically integrate ads to make them harder to skip or separate from the content people choose to watch.
Think apps, not ads
Mobile ads are an integral part of communication strategies but are ineffective. People dislike ads that pop up unexpectedly and are difficult to read on small mobile screens. While apps are not seen as intrusive like ads, their marketing space is also limited. To succeed, companies should add value to users through apps that are convenient, unique, social, offer incentives, and entertain users. Overall, apps are a more cost-effective way to engage mobile customers than traditional ad campaigns if they enhance users' experiences.
Preserve the Luxury or Extend the Brand
This case study examines the debate around whether the famous Château de Vallois wine estate in Bordeaux, France should preserve its luxury brand or extend into a lower-priced branded wine market. The estate has been family-owned for generations and is known for its high-quality, expensive Grand Vin wine. However, Claire, one of the owners, wants to introduce a lower-priced branded wine to attract younger consumers. The estate manager François argues they should preserve their luxury reputation and not risk damaging relations with their distributors. They also lack the resources and expertise for a new branded wine business. Both sides present arguments around the costs, benefits and risks of entering the new market segment.
Creativity in advertising when it works
Creative advertising is more memorable and effective than other types of advertising. It requires divergent thinking and the ability to find unusual solutions. Original ads contain novel, unique, and unexpected elements that depart from stereotypes. An original ad may include aesthetically appealing elements, unexpected details, or ideas that are blended in an original way. Pepsi's advertising in India has been very creative, targeting youth through humorous ads featuring young celebrities and icons. Their ads use taglines in Hindi to create an exciting, youthful brand image.
Preserve the luxury or Extend the brand?
This document discusses a proposal to change the business strategy of Chateau de Vallois, a family-owned wine estate. There is disagreement among stakeholders on whether to enter the affordable luxury wine market. While Clare de Valhubert supports expanding into new markets, Gaspard de Sauveterre and Francois de Sauveterre worry this will damage the brand's reputation. Experts caution that the estate lacks experience in mass marketing and managing multiple brands could distract from their core business. The document recommends creating separate business units and boards to oversee traditional and new brands to minimize risks to the estate's reputation.
KEY LEARNINGS
This document discusses key learnings from various modules related to communication, presentations, new product development, and marketing strategies. It provides tips for effective presentations that are well-prepared, engaging, and avoid unnecessary elements. It also outlines stages of new product development from idea generation to commercialization. Global market entry strategies and the need to balance global integration with local responsiveness are examined. Case studies of Dove's real beauty campaigns and the evolution of its branding are presented.
Summary
This document provides an overview of key learnings from various marketing modules, including communication strategies for presentations, new product development processes, international market entry strategies, and brand management techniques. It discusses concepts like the innovation imperative, new product success and failure factors, global pricing approaches, and marketing mix adaptation across countries. Case studies of Dove's real beauty campaign and Mountain Man beer's market expansion are analyzed. The importance of customer relationship management and building brand value through innovative initiatives is also highlighted.
Steinway & sons:buying a legend
it is based on case study of harvard business school.
These slides were created by sanket badhe, as part of an internship done under the guidance of Prof. Sameer Mathur (www.IIMInternship.com)".
Case analysis
Grey Worldwide Hong Kong and China developed a customer relationship management (CRM) strategy called Grey Relationship Management (GRM) to reposition itself against increasing competition. GRM integrated traditional marketing with new technologies to provide a customized, Asia-specific CRM process. It aimed to build customer loyalty and differentiate Grey by managing knowledge and executing a customer-focused strategy. Implementing GRM required transforming Grey's culture, processes, skills and metrics to fully adopt CRM across the organization.
Grey Worldwide: Strategic Repositioning through CRM
This document discusses Grey's strategy to implement CRM (Customer Relationship Management) in Asia. Some key points:
- Grey lacks an integrated customer database but has an existing customer base, brand strength, and no legacy systems, allowing new CRM tools.
- CRM will provide a holistic customer management approach through specialization, data mining, profiling key customers, and tools like "Brand Futures+" and "CRM Charter".
- Grey will leverage its existing customer database, brand equity, and technology capabilities to capture the Asian e-marketing opportunity and redefine customer value through account managers and knowledge integration.
- The CRM strategy involves building an organizational culture with CRM orientation, training staff for
Saxonville Sausage Company
Saxonville Sausage Company is a 70-year old family business that generates $1.5 billion annually from various pork sausage brands. Their top-selling brand, Bratwurst, has seen flat sales recently. Their Italian sausage brand Vivio has grown but remains regionally focused in the Northeast. Saxonville assembled a team to research expanding Vivio nationally. Consumer research found that positioning Vivio around "Family Connection" resonated best by appealing to women's roles feeding their families. Their analysis concluded that building on Vivio's existing recognition and Saxonville's brand equity, while keeping the name familiar to loyal customers, offers the best approach to gaining national distribution and sales growth.
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This document discusses different business strategies used by Bikram Choudhary and Tara Stiles to market yoga in the US. Bikram Choudhary strengthened his yoga brand through copyrights and patents. He charged high fees for teacher training which helped his brand grow rapidly. Tara Stiles made yoga more accessible by removing Hindu elements, adding music, and marketing through social media. Both aimed to attract more students by adapting yoga to US audiences and values while protecting or spreading their unique styles.
Evolution of Dove
Dove launched its "Campaign for Real Beauty" in 2004 to promote a broader definition of beauty beyond narrow stereotypes. Market research found most women did not feel beautiful. The campaign featured everyday women and became very popular, but also faced some criticism. It helped boost Dove's sales significantly but also risked the brand being seen as only for "fat girls." Future marketing should better connect the campaign's message to Dove's products to address this risk.
What are the important brand architecture decisions in developing a branding ...
There are several important brand architecture decisions to consider when developing a branding strategy. These include whether to create a new brand, extend an existing brand, or use a combination of new and existing elements. Other decisions include whether to use line extensions, category extensions, individual brand names, a corporate umbrella name, or sub-brands. Finally, large businesses may use a brand portfolio to encompass multiple brands, services, and companies under one umbrella. Each brand in the portfolio often has its own trademarks but operates as an individual entity.
How is brand equit built, measured, and manged
1) The document discusses how brand equity is built through three main drivers: brand elements, products/services and marketing activities, and associations with other entities.
2) It provides examples of how companies like Microsoft, Virgin Mobile, and Airtel have leveraged these three drivers to build their brands.
3) The document also discusses how to measure and manage brand equity over time through brand audits, tracking studies, and making adjustments to marketing programs based on consumer response.
What is brand equity
Brand equity is the added value provided to products and services by a brand, as reflected in how consumers think, feel and act towards the brand. Customer-based brand equity refers to how the differential brand knowledge affects consumer responses to a brand's marketing. Consumers react more favorably to a brand's products and marketing when the brand has positive customer-based brand equity, and less favorably when it has negative brand equity. Lifebuoy is an example of a brand that has consistently maintained its key promises over time while introducing new variants and extensions tailored to changing consumer preferences.
What is brand, and how does branding work
Branding involves using names, symbols, or designs to identify and differentiate products and services from competitors. The earliest signs of branding in Europe involved medieval guilds requiring craftspeople to mark products to protect customers from inferior quality. Branding also benefits firms by simplifying product identification, organizing inventory records, and providing legal protection. For consumers, brands help evaluate identical products and signal quality and satisfaction. Successful branding strategies convince consumers that meaningful differences exist between brands in a category, whether through product attributes, benefits, or non-product related means.
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This document outlines 12 strategies for organizational change: reengineering by appointing cross-departmental teams; outsourcing by purchasing more goods and services externally; benchmarking against best practices; supplier partnering with fewer but better value-adding suppliers; merging with similar or complementary firms; globalizing by thinking globally and acting locally; flattening the organizational structure; focusing on the most profitable businesses and customers; justifying actions by measuring outcomes; accelerating response time to changes; empowering employees; and broadening consideration to all stakeholders.
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Marketing implementation focuses on who, where, when and how marketing activities are carried out. Marketing control assesses the effects of marketing activities and programs to determine if changes are needed. The document discusses annual plan control, profitability control, efficiency control, strategic control, the marketing audit, and the marketing excellence review as tools for implementation and control of marketing programs and activities.
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Q5
- 1. HOW SHOULD MARKETERS ADJUST THEIR STRATEGIES AND TACTICS FOR AN ECONOMIC DOWNTURN OR RECESSION
- 2. MARKETING IN ECONOMIC DOWNTURN EXPLORETHE UPSIDE OF INCREASING INVESTMENT ShivamVerma || IIT Delhi
- 3. MARKETING IN ECONOMIC DOWNTURN GET CLOSERTO CUSTOMERS ShivamVerma || IIT Delhi
- 4. MARKETING IN ECONOMIC DOWNTURN REVIEW BUDGET ALLOCATIONS ShivamVerma || IIT Delhi
- 5. MARKETING IN ECONOMIC DOWNTURN PUT FORTHTHE MOST COMPELLINGVALUE PROPOSITION ShivamVerma || IIT Delhi
- 6. MARKETING IN ECONOMIC DOWNTURN FINETUNE BRAND AND PRODUCTOFFERING ShivamVerma || IIT Delhi
- 7. CREDITS All Photos are taken from google images and Book on ‘Marketing Management’ by Kotler ShivamVerma || IIT Delhi
- 8. THANKYOU ShivamVerma || IIT Delhi