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How can brands beat a recession?

Updated Tuesday, 16th November 2010

Understanding your customer is a key to surviving when things get tough, explains Danone's Bernard Hours.

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I think that crisis is part of the evolution game. It means that crisis is just an additional stress for the marketing people because they have to adapt to consumers who are probably not ready to buy for the same price any more.

They are not convinced by the quality of the brand so easily. So it’s just raising the level of expectancy in terms of the relation between price and quality. So you need to increase the quality of your brands or you need to decrease the price. If you can do both it’s even better.

You have to be able to generate some innovations also. It’s just that if you stay in the situation you were in before the crisis, if you don’t change anything, you are losing ground.

So it’s very important to be always anticipating, always being able to invent new solutions and create a new value because crisis means that the consumer will be more demanding with you.

Bernard Hours on...

 

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