Business Intelligence #67: John Quelch on Best Marketing Practices in a Recession
Business Intelligence #67: John Quelch on Best Marketing Practices in a Recession: Play Now | Play in Popup | Download
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Duration: 13 minutes, 21 seconds
Show Notes:
Canadian Management Centre is pleased to host the American Management Association’s Marketing Podcast “Best Marketing Practices in a Recession” with special guest John Quelch.
John Quelch is the author of over 20 books and was one of ten marketing experts profiled in the 2007 book, Conversations with Marketing Masters. He has been a professor at Harvard Business School since 1979 and is known worldwide for his research on global marketing, global branding and marketing communications.
During this interview John will review the common pitfalls that companies fall into during economic downturns and give the tools to combat these pitfalls. John discusses in detail how most companies will cut marketing budgets and departments in a recession and how this pitfall is one of the most common during a downturn.
John’s recommendation during these leaner times is to cutback where it makes sense. As well, make sure that during this process the corporation is not leaving opportunity on the table.�
He explains that the first step is to look at the marketing budget and ask the following:
1. Review current consumer behaviour
a. Has the consumer stopped purchasing altogether?
b. Has the consumer moved to consuming through a different method?
c. Has the consumer embraced a different advertising medium?
2. Review the company’s core values
a. What was it that got the company to its current position?
b. How can the company’s core values assist in reaching out to new and existing consumers?
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