An old brand can be the ticket to new market share

Posted on January 23rd, 2009 by | Filed under: Marketing in a Recession, Marketing News, Soap Box

Looking for a shortcut to increased market share? If you have opportunity, buy an old brand. Building a dominant brand in any market segment can take decades. In today’s market, some savvy companies are looking for fire-sale prices on old school brands.

The following article shared from Forbes.com tells the story of an entreprenurial company who purchased, of all things, the Gold Bond brand of medicated foot powder. Instead of updating the brand, the company smartly milked the old-school look of the brand and extended it to a myriad of personal care products.

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When budgets are tight, don’t cut the “What,” change the “How”

Posted on December 4th, 2008 by | Filed under: Marketing in a Recession, Soap Box

We often hear we should keep up our marketing activity during a recession to maintain–even improve–our market position. The reality, however, is that leaving your marketing budget intact while making cuts elsewhere is easier said than done, and in most cases it’s just unrealistic.

While all cuts are painful, a cut in the marketing budget is often seen as temporary and therefore livable. But to completely stop marketing activity is to surrender market position to your competitors. Can’t afford to maintain previous budget levels? The savvy thing to do during a recession is to switch to highly economical tactics while maintaining your brand integrity.

Bottom line: If you have to cut back your marketing budget, don’t cut the “What,” change the “How.” We’re in a recession and budgets are thin. Lean, economical marketing tactics executed with your existing brand integrity will protect your market share.