Recession Storming: Thriving in Downturns through Superior Marketing, Pricing and Product Strategies by Hart Rupert M

Author:Hart, Rupert M [Hart, Rupert M]
Language: eng
Format: mobi
Publisher: ExperIventures Inc and CordaNobelo
Published: 2008-03-01T16:00:00+00:00

You need to refocus your product-offering's features and benefits on the new buyers and their perceived needs. You should reassess your techniques for reaching the true buyer and ensure that they reflect the new realities. You need to look hard at more cost-effective ways of presenting your product to these buyers, who have very different ways of doing business.

Position your company to higher-level management

We have already considered the increasing move by your customers towards centralizing buying decisions and putting the responsibility in the hands of upper and financial management. This provides an opportunity, which was well exploited by IBM, which staffed its account management teams with higher level reps to ensure high level representation on the customer's side. By thus talking to more senior financially-orientated personnel, IBM was able to take the issues away from direct price comparison by the purchasing department and away from detailed technical appraisal by the technical people. In this way it was able to stress the competitive advantages of the “whole product” it offered its customers.

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