If a brand suffered from low growth before slowdown, the time was right for corrective action, he says.
Prof Arindam Chaudhuri of IIPM on MF HUSAIN
Imagine you have lived your usual office day… checked your mail, fussed over quarterly targets, cracked a strategy or two, sat through a presentation, argued with the client – or agency; depending on which side of the table you are sitting. Then you have sat through innumerable traffic jams, talked endlessly on your hand phone, had dinner, caught up with the news, sat till midnight on the rest of the mails awaiting attention in your inbox, and finally slept. Imagine that you wake up the next day and find that while you were sleeping; your whole world has turned topsy-turvy. Your bed is stuck to the wall, the ceiling has become the floor, the chairs and tables have turned turtle, and your car is standing outside parked on a cloud. The slowdown has been a bit like that.
In a year where we recorded the fastest economic growth ever and markets were glowing with optimism, the slowdown was totally unexpected, and when it came, it turned our safe, happy little world upside down.
Today, one year down, it’s time to look at the biggest lessons that have emerged during the year gone by. To my mind, the biggest learning for a marketer is that there is no ‘one size fits all’ slowdown strategy. Before considering the strategic choices before the brand, it’s important to take stock and understand where the brand stands. If the brand is of high relevance to consumers, even those consumers who were flirting with more premium brands when the economy was booming, or were simply experimenting for the sake of change, return to home ground. The best thing is to just stay on course, and drive value without making any drastic changes. A case in point is Tide detergent, which surfed the slowdown by staying on its equity of superior cleaning, while driving a value story of better whiteness with just half the quantity of detergent. McDonald’s continued to grow through its twin-pronged marketing plan focusing on its value and its popular menu items.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!
For Exclusive Footage by Sunday Indian Click Here
Outlook Magazine's B School Ranking Scam Exposed
Don't trust the Indian Media!
IIPM exposes Career 360 and Mahesh Peri scam
IIPM - We will change your outlook : Career 360 and Mahesh Peri scam is exposed
IIPM Related Links
Follow Arindam Chaudhuri on Twitter
IIPM B School on Twitter
IIPM 3-year full-time Integrated (MBA BBA) Programme
IIPM 2-year full time Programme (leading to the award of the MBA degree from IMI)
B-schools expect higher rate of campus placements this year
Exclusive In chat with Society Magazine - Prof. Arindam Chaudhuri
Prof Arindam Chaudhuri of IIPM on MF HUSAIN
Imagine you have lived your usual office day… checked your mail, fussed over quarterly targets, cracked a strategy or two, sat through a presentation, argued with the client – or agency; depending on which side of the table you are sitting. Then you have sat through innumerable traffic jams, talked endlessly on your hand phone, had dinner, caught up with the news, sat till midnight on the rest of the mails awaiting attention in your inbox, and finally slept. Imagine that you wake up the next day and find that while you were sleeping; your whole world has turned topsy-turvy. Your bed is stuck to the wall, the ceiling has become the floor, the chairs and tables have turned turtle, and your car is standing outside parked on a cloud. The slowdown has been a bit like that.
In a year where we recorded the fastest economic growth ever and markets were glowing with optimism, the slowdown was totally unexpected, and when it came, it turned our safe, happy little world upside down.
Today, one year down, it’s time to look at the biggest lessons that have emerged during the year gone by. To my mind, the biggest learning for a marketer is that there is no ‘one size fits all’ slowdown strategy. Before considering the strategic choices before the brand, it’s important to take stock and understand where the brand stands. If the brand is of high relevance to consumers, even those consumers who were flirting with more premium brands when the economy was booming, or were simply experimenting for the sake of change, return to home ground. The best thing is to just stay on course, and drive value without making any drastic changes. A case in point is Tide detergent, which surfed the slowdown by staying on its equity of superior cleaning, while driving a value story of better whiteness with just half the quantity of detergent. McDonald’s continued to grow through its twin-pronged marketing plan focusing on its value and its popular menu items.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!For Exclusive Footage by Sunday Indian Click Here
Outlook Magazine's B School Ranking Scam Exposed
Don't trust the Indian Media!
IIPM exposes Career 360 and Mahesh Peri scam
IIPM - We will change your outlook : Career 360 and Mahesh Peri scam is exposed
IIPM Related Links
Follow Arindam Chaudhuri on Twitter
IIPM B School on Twitter
IIPM 3-year full-time Integrated (MBA BBA) Programme
IIPM 2-year full time Programme (leading to the award of the MBA degree from IMI)
B-schools expect higher rate of campus placements this year
Exclusive In chat with Society Magazine - Prof. Arindam Chaudhuri
