Showing posts with label Eric Janszen economic slump Harvard Business Review. Show all posts
Showing posts with label Eric Janszen economic slump Harvard Business Review. Show all posts

Replicate the strategy of companies that triumphed slumps.

Have you noticed Harvard Business Review is simplifying its writing style and also adding fancy graphics to their cover?
There is still substance in their articles though and I particularly enjoyed Eric Janszen's newest contribution. Unfortunately, it is in my paid for subscription link so I can not link you, but here's a quick summary:
According to Eric Janszen, author of The Post -Catastrophe Economy, “the era of unbridled, debt-financed consumer spending is over”.
He explains that to attract today’s money-conscious consumers, companies need to replicate the strategy of companies that triumphed in previous economic slumps. As consumer debt declines for the first time in decades, the winning companies will be those that can manage without offering the no-money-down and low-interest deals. Messages that promote value over brand and “getting back to basics” marketing tactics will appeal to debt-averse consumers.