Many industry pundits will advise that during a toxic economy is the time your company should take risks and innovate, though you may have been trying to innovate even before the recession. Others will suggest you create new business processes or completely revamp your organization; yet you may not have the options, money, or time to do this.
A far simpler answer—not magical at all but extremely powerful and effective for surviving and prospering in a recession—is to focus on your marketing fundamentals. This is an exceptionally straightforward, uncomplicated concept, yet painfully difficult to execute properly. But how successfully you focus on your marketing fundamentals and act on them will determine whether your company thrives, does poorly, or simply disappears.
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