Last week, we talked a lot about how we can adjust to our current economic climate. We discussed several ways of doing this, including how to focus on your most profitable product or service by identifying the greatest value you can provide to consumers. Another way to increase your marketability is through adjusting your pricing. [...]
If you have been following the SalesBy5 blog, you have heard us talk often about adapting to the “new normal” of our economic environment. A recession has the tendency to paralyze and cause fear in small businesses. Instead, we should seek ways to accept the reality and adapt quickly. How? Victor Cheng, recession marketing expert, tells us [...]
Due to the economic downturn, consumer behavior is being re-shaped. According to an interview with John A. Quelch, professor at Harvard Business School, marketers and business people need to re-segment the way they look at their prospects based on emotions: Slam-on-the-brakes consumers feel hardest hit and reduce all spending. Pained-but-patients economize, but less aggressively. Comfortably [...]
