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The latest financial crunch is making airwaves. An impending gloom of recession is expected to emerge from the states, with Asia counting on its economic boom bubble (lead by China) to tackle the crisis.

What does the financial crunch mean in terms of marketing? Here are my thoughts:

• Product: Outsourcing may perhaps be a magic pill.
• Price: Prices will have to resonate with conditions. Marketeers will become financially savvy.
• Place: Distibution will be out of the box. Expect a cleaning up of clutter by most companies.
• Promotions: Expect words like “Save”, “Safe” to pop up. Comparison ads too might see an increase.

The real challenge is this: Recession means that your products should fly more to encourage spending. To fly more, promotions is key, which then costs money. But recession also means budget cuts…

A vicious circle. Real Marketeers, please stand up.

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