Which of the following actions should a marketer take in response to the new economy?
A) Offer selected discounts.
B) Cut marketing budgets.
C) Hold the line on prices.
D) Cut costs.
E) Discontinue products.

Question

Quizplus · Accepted Answer

In the new economy, consumers are more price-conscious and value-oriented. Therefore, holding the line on prices can help maintain customer loyalty and market share, even if it means sacrificing some profit margin. Offering selected discounts and discontinuing products can also be effective strategies, but they should be carefully targeted to specific customer segments and products that have lower profit margins or lower sales volume. Cutting marketing budgets and costs may seem like a logical response, but it can actually hurt a company's long-term growth and competitiveness by reducing its ability to reach and engage with customers. Instead, companies should focus on optimizing their marketing spend and finding new ways to connect with customers through digital channels and other innovative approaches.

Which of the Following Actions Should a Marketer Take in Response