The Best Strategy to Face Economy Recession
Written by Ardy on May 27th, 2009Globalization has changed the world rapidly, especially in economy aspect. Globalization has changed information speed. Turbo marketing will happen. News and information can spread wherever easily. So, company must be aware to the competitors. Small companies can also threat the survival of big company.
The following is the best strategy to face economy recession according to Philip Kotler, the international marketing expert.
He said that there isn’t the best solution for any business. But generally, there is the strategy that can be used in recession period.
It depends on the profile of company strategy, mainly in finance and marketing aspect. Philip Kotler said at the first session at the seminar in Jakarta on “Marketing in Turbulent Times” as reported by kompas.com, May 27, 2009.
According to him, if the finance and marketing of the company are strong, the strategy should be done is by buying competitors or the assets, then increasing marketing budget.
If the finance of stable company is weak, but the marketing is strong, the strategy should be done is by building a stronger marketing team, then buying some strong brands.
If the condition of company is unstable, the finance is weak, the marketing is strong, find the fresh financial capital and cut overhead cost, then renegotiate with suppliers and do recovery actions.
But, if the company is going to go to bankruptcy, just close it. Then save what can be saved or sell if you can sell.
Technorati Tags: the best strategy to face economy recession, marketing in turbulent times, Philip Kotler seminar, best finance and marketing strategy, Philip Kotler business tips, company strategy in recession
Tags: best finance and marketing strategy, company strategy in recession, marketing in turbulent times, Philip Kotler business tips, Philip Kotler seminar, the best strategy to face economy recession