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Profiting with the Post Recession Customer

August 2009 Marketing, Pricing, Product 2 Comments

The current recession has been longer, deeper, and generally more damaging than any other since the great depression. As we move past the recessionary scramble to survive and into some semblance of a recovery, no intelligent executive should expect things to return to the way they were. Research into customer behavior is showing two general trends: (1) Demand is not only generally lower, but also the demand that does exist is at a lower price point. (2) This shift in customer demand and preferences is likely to persist for the foreseeable future. If the world has changed, so must strategy:

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All competitive advantage comes from doing something different, where the outcome of that something different is something a customer desires.

  1. The recent recession was hopefully the worst we will see in our lifetime.
  2. If you haven’t noticed, we are in a post-recession economy.
  3. This post-recession economy isn’t like the pre-recession economy. Things have changed.
  4. Buyer behavior has been permanently altered.
  5. Strategy must adapt to the new demands.
  6. There gold and opportunity in this newly shifted demand hills.