The current economic crisis is characterised by a drop in confidence, which leads consumers to stop spending. In the midst of this situation, the task of marketing managers is to maintain product rotation despite the general slowdown.
For this reason, Duke University and the American Marketing Association (AMA) decided to survey 600 industry professionals to find out which strategies are most commonly used to survive.
The study, published by eMarketer , revealed bc data india that the sector now believes that the most important thing for customers is to control the price, a priority that overtakes qualities such as quality, innovation and brand.
The sector expects spending to remain low this year, with growth of only 0.5% over the next twelve months, which will benefit new media such as the Internet, as traditional channels will suffer a decline of 7%.
For this reason, the key strategies of the sector's executives involve investing heavily in online advertising, commercial deals, new markets, innovative products and services that give the company a boost.
The companies that have best weathered the onslaught are Apple, Procter & Gamble and Coca-Cola, according to the survey, which revealed that for the sector, brand strategies need more flexibility to stay afloat.
For 63% of respondents, this crisis marks the end of traditional brand positioning, which must be managed by a variety of new platforms from which a more personal relationship with the customer will emerge.