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Marketing strategies need to adapt to survive recession
December 23, 2008
Courier Post (Cherry Hill, N.J.): Jennifer Gushue, an adjunct professor of marketing in the Rohrer College of Business at Rowan University, Glassboro, N.J., said that companies need to have an efficient and productive marketing plan to survive during a recession.
The professor said marketers need to look at companies that are surviving successfully during an economic downturn and ask what ways they have adapted to keep their customers happy. For example:
- McDonald's is not advertising its specialty burgers but promoting its value menu and still getting people to "eat out."
- Dunkin' Donuts and other companies have embraced social media Web sites such as Twitter.com to update loyal customers about new promotions, new products and even ask for feedback. The entire idea doesn't cost Dunkin' Donuts much except for the time of an employee to handle the media sites.
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