Beat the recession with this marketing tip

Here’s a very basic concept. One of the differences between a recession and economic growth is how Mrs Consumer shops. During economic growth she is prepared to buy any ol’ rubbish.

During a recession she buys what she thinks is necessary and what she truly needs.  Yesterday my daughter went shopping for groceries at the local big supermarket and couldn’t get parking. And she went to the premium priced store.

Apple reported record profits for the first quarter, up from the same time in 2008.  So does Ms Consumer really need an iPhone or an iPod or the expensive Apple laptop? Well yes. These are beautifully designed gadgets that make her feel good.

It’s not even about affordability. Apple products have historically been a premium priced range of goods. Nothing cheap about any of the main products that Apple sells. Not even a computer bag is available at a discount price at the Apple shop.

Apple’s results are for a period where other retailers howled with pain and a fair number closed down. Gloom and doom was reported over the 2008 festive season. This is the period where merchants often make the bulk of their turnover for the year.

What’s the lesson here and how can you adapt your service and product to this mindset? Seems a no-brainer doesn’t it. Make sure your service or goods are something your target market really wants and needs and in fact they cannot do without in their lives.

Nice one. How do you do that then? Know your customer, talk to her, hear what the market place is talking about, listen to whispers, check out stores and above all else ensure your product or service is remarkably good for its purpose.

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