Which of the following strategies should be adopted by marketers during a recession?
A) increase investment on marketing existing products
B) focus on expanding the customer base and not on the retention of existing customers
C) focus primarily on price reductions and discounts
D) concentrate on communicating the brand value and product quality to consumers
E) stick to the budget allocations adopted during the preceding years

Question

Quizplus · Accepted Answer

During a recession, consumers tend to be more cautious with their spending and are interested in getting the most bang for their buck. By focusing on communicating the brand value and product quality, marketers can build trust and loyalty with these cautious consumers who are looking for products that meet their needs and provide value. This approach can also help differentiate the brand from competitors who may be focusing solely on price reductions and discounts.

Which of the Following Strategies Should Be Adopted by Marketers