Marketing through a recession, part two
So now the country’s officially in a recession – which has been so long coming that it’s almost a relief to be able to say it. And yet, businesses are still running, and money is still being made and indeed spent. The immediate future may not be bright, but it needn’t all be doom and gloom.
We’ve been saying for some time that the way to survive the recession is to meet it head on, and not be intimidated into cutting back your business or marketing activities. And this month we were at Future Horizon’s forecast seminar for the semiconductor/electronics industry – where the message was much the same.
Industry expert Malcolm Penn – who should know what he’s talking about after 45 years in the electronics industry - had some positives to share amongst the pessimism. The global return to growth, he pointed out, is dependent on confidence, and the only way out is through. And the key to coming out the other side stronger than before and ahead of the competition? Don’t tread water - continue to innovate, continue to develop, and continue to market your products and services. This is a time to stand out from your competitors, and in Malcolm’s words “get out there and do something”.
Experts are predicting a return to growth in 2010, so fingers crossed the worst will be over by this time next year. In the meantime, it is companies which keep up their marketing and R&D spends, adapt and react quickly to change, and exploit those small opportunities to get ahead which will come out smiling when the clouds have passed. February 5th, 2009 / Tags: recession, marketing, semiconductor / Trackback
