Assistant Professor, Rawal Institute of Management and Technology
Online published on 26 September, 2013.
Recession was a buzzword sometime back.From students to CEOs everybody has tried to measure this term “recession” from their own perspective. What is recession, what are its consequences, from where it started, where it will go, how it has affected people, lives, businesses and specially the marketing.
This article has focused over recession and the best practices done by business giants perse. Companies changed their outlook, changed its stratigies, changed its communication to maintain and retain their existing customers. Strategist were so frightened that they shifted their focus from customer acquisition to customer retention. Obviously, to cut down the cost is the priority when the whole economy is going through the bad phase of recession.But question lies can we still think about spending in branding or should we focus on passing assurance messages to our existing customer?
