Are There Recession Winners?
Much has been written in recent months about who actually comes out ahead in a recession?
The conventional wisdom that the biggest players are in the strongest positions doesn’t consistently prove true. The largest of companies and professional service firms often have the most crippling overhead and complex political structures preventing quick change.
Smaller rivals on the other hand typically built their businesses by providing the same or better service at a lower cost. This “value” model can be a much bigger competitive advantage in a recession when everyone is looking to trim costs. But one of the challenges is to make sure the “value” message isn’t translated in to being “cheap.” Value must address quality and the ability to provide a product or service in a smarter way. And as marketers, we’ve got to work hard to put some real meat on the value message so it doesn’t appear trite.