{"id":434,"date":"2009-12-24T05:50:06","date_gmt":"2009-12-23T19:50:06","guid":{"rendered":"http:\/\/sketharaman.com\/blog\/?p=434"},"modified":"2009-12-24T05:50:06","modified_gmt":"2009-12-23T19:50:06","slug":"mass-brands-can-acquire-and-retain-customers-of-class-brands-in-this-recession","status":"publish","type":"post","link":"https:\/\/sketharaman.com\/blog\/2009\/12\/24\/mass-brands-can-acquire-and-retain-customers-of-class-brands-in-this-recession\/","title":{"rendered":"Mass Brands Can Acquire &#8211; And Retain &#8211; Customers Of Class Brands In This Recession"},"content":{"rendered":"<p>If there&#8217;s one thing that&#8217;s different about this recession from the ones before, it&#8217;s the permanent shift of customers from premium to value brands. In a <strong><a href=\"http:\/\/www.mckinseyquarterly.com\/How_the_recession_has_changed_US_consumer_behavior_2477\" target=\"_blank\">recent report<\/a><\/strong>,\u00a0McKinsey says that marketers of premium goods who are waiting for a return to normality following the recession may be disappointed. &#8220;Their customers have tried cheaper products\u2014and actually like them&#8221;, warns the report.<\/p>\n<p>But, in another way, this recession is not very different: as can be expected,\u00a0the percentage of consumers &#8220;in play&#8221; &#8211; that is those who&#8217;ve tried out a cheaper brand and are happy with the experience &#8211; is lower for beer (&lt;4%) and other high-involvement product categories as compared to cold and allergy medicine (&gt;10%) and other low-involvement ones.<\/p>\n<p>Purveyors of value for money brands in low-involvement categories can seize\u00a0this once-in-a-lifetime opportunity to grab customers of premium brands &#8211; and retain them even after the economy recovers. But, this needs a highly nuanced approach and direct mailers, search engine marketing, online shopping\u00a0and other one-to-one tactics might work the best.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If there&#8217;s one thing that&#8217;s different about this recession from the ones before, it&#8217;s the permanent shift of customers from premium to value brands. In a recent report,\u00a0McKinsey says that&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-434","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/posts\/434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/comments?post=434"}],"version-history":[{"count":0,"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/posts\/434\/revisions"}],"wp:attachment":[{"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/media?parent=434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/categories?post=434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sketharaman.com\/blog\/wp-json\/wp\/v2\/tags?post=434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}