Viele Unternehmen reagieren defensiv auf die Konjunkturkrise. Sie sparen am Personal und an der Werbung. Doch für proaktive Unternehmen birgt eine solche Krise Chancen.
Business English Today-Tipp: So nutzen Sie sie:
In recessions, two things companies tend to cut back on first, in order to save money fast, are marketing and personnel. But basing your decisions only on the bottom line is dangerous, experts agree. One such expert, Harvard Business School professor John Quelsh, has come up with an exciting 8-point plan to steer your company through the recession by finding out what your customers need, and by concentrating on core values.
Here is his 8-point plan. See how you can adapt it to your business. |
- Research your market
The recession has caused many consumers to change their values, and you need to find out what these are. Many will be turning to established brands, others will be looking for special offers. Brands give consumers a feeling of reassurance. But most consumers will not be interested in new brands.
- Focus on family values
In economic hard times, we tend to retreat to our homes. This is good for some sectors, like home entertainment and furnishing, both of which are likely to hold up reasonably well. In your advertising, replace images of extreme sports and individualism with cosy scenes or images of hearth-and-home. Don’t use crazy humour and don’t try to frighten people. They are frightened enough already!
- Invest in marketing
Brands that increase marketing expenditure during a recession can improve market share and return on investment at a lower cost than during good economic times. One example is the use of TV advertising. More consumers are staying home, which means higher than expected TV audiences.
- Adjust your product portfolio
Consumers will want fewer gimmicks and more long-lasting, safe and reliable products. Prune the weaker items in your product lines accordingly. Industrial customers will prefer products that are unbundled and separately priced.
- Support your distributors
Encourage distributors to stock up your products by offering them early-buy discounts and generous financing and return policies.
- Adjust your pricing tactics
Offer price promotions, lower the threshold for quantity discounts, extend credit to reliable customers.
- Stress market share
Ensure that you fully understand your cost structure, so that if you must cut costs, you can maximise your savings whilst making minimum impact on customers and hence on market share. Companies with the most productive cost structures can ultimately expect to gain market share.
- Emphasise core values
Cement your employees’ loyalty by reassuring them that your company has survived difficult times before. Maintain quality, don’t cut corners, and provide better than usual customer service.
Vokabel-Übersicht Englisch-Deutsch:
core values – Grundwerte | to retreat – sich zurückziehen | reasonably cosy – ziemlich gemütlich | hearth-and-home – Heim und Herd | expenditure – Ausgaben | return on investment – Anlagerendite | gimmick – Spielerei | to prune – in etwa: aussortieren | early-buy discount – Frühbucherrabatt | threshold – Schwelle | hence – infolgedessen | to cut corners – an der falschen Ecke sparen |