Scanning the Enviornment Outlines

Scanning the Enviornment Outlines - Economic Environment...

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Economic Environment Strategy during a Recession * 1. Know your customer  How price sensitive are they?  How do they define ________?  How has their behavior changed? CUT BACK DELAY PURCHASE SUBSTITUTE SWITCH VENDORS DO WITHOUT *John Quelch, HBS Working Knowledge
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Economic Environment Strategy During a Recession * 2. Adjust your product line/price 3. Maintain communication Keep advertising and stress …. 4. Focus on the home and on basics (reliability, *John Quelch, HBS Working Knowledge
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Economic Environment Strategy during a Recession * 5. Support your channel members, maintain relationships 6.. Evaluate long-term as well as the short term consequences Which new behaviors will endure, which will revert? *John Quelch, HBS Working Knowledge
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Social Environment Demographics Identifiable characteristics of customers Powerful associations with consumer behavior Sex, age, ethnicity, race, income, generation Understand and target distinct segments Example: generational cohorts
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Scanning the Enviornment Outlines - Economic Environment...

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