RUGCIC Report 200902 English Recession.ppt · Recession marketing Interesting chances in dark...
Transcript of RUGCIC Report 200902 English Recession.ppt · Recession marketing Interesting chances in dark...
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Recession marketingInteresting chances in dark economic ages
Prof. Dr. P.S.H. LeeflangProf. Dr. E. SterkenDr. L.M. Sloot
Research report CIC 200902ISBN 978-94-90282-01-1
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Table of contents
� Summary page 3
� Introduction: characteristics of an economic crisis page 9
� Consequences for consumers, companies and governments page 14
� Solutions and recommendations for marketing managers page 20
� Main references page 45
� CVs of the researchers page 49
� Customer Insights Center page 53
© CIC | 2Customer Insights Center research report
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SummaryIncluding conclusions and recommendations
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Less sunny economic times…What do these implicate for marketeers?
© CIC | 4Customer Insights Center research report
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Developments in times of recession
› Many companies are confronted with collapsing sales.
› Durable consumer goods are expected to be hit the hardest (Forrester effect/channel chain effect*). For example luxury goods, such as houses, kitchens, yachts and cars.
› Sales figures show the expectations: the sales of cars declined in 2008 to the level of 1982 **.
› Also non-durable consumer goods, such as expensive trips and leisure activities are expected to decline more than proportional..
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* J.W. Forrester, Industrial Dynamics, MIT Press, Cambridge (1958).** Clou, december (2008) pag. 38-39.
Customer Insights Center research report
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How recession proof are companies and marketeers?
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Every recession asks for recession marketing
Changes in: lead to : ask for:
› Buying power
› Willingness to buy
› Production
› Trade
Recession marketingRecession marketing
Supplier behaviour changesSupplier behaviour changes
Customer behaviour changesCustomer behaviour changes
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Summary of recommendations for marketeers
� Keep innovating: offer new products- and/or service combinations that fit with the changing customer behaviour.
� Keep investing, for example in social network marketing, experiential marketing and loyalty marketing.
� Keep advertising, if needed only in media with less costs.
� Customize the supply focussed on specific customer groups.
� Take care of supply via multiple channels.
� Avoid price reductions, because in short term this expands the market, but finally it reduces the profitability.
Which recommendations are applied during this recession?
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IntroductionFrequent characteristics of an economic crisis