Watch the video below of Leslie Moeller, VP Booz and Co. to hear his thoughts on using the current consumer behavior to capture new customers. Les will also address the ever important challenge of pricing products in a down economy - Is lowering your price the right strategy? And the idea of positioning yourself for success when the economy rebounds.
Monday, March 30, 2009
New Economy, New Customers?
In part I of our video interview series with Les Moeller we learned about the phenomenon of trading up, trading down and trading across. This consumer behavior has been sparked by the new economy that we are operating in. The next logical question is whether or not this leads to an opportunity to capture new customers?
Watch the video below of Leslie Moeller, VP Booz and Co. to hear his thoughts on using the current consumer behavior to capture new customers. Les will also address the ever important challenge of pricing products in a down economy - Is lowering your price the right strategy? And the idea of positioning yourself for success when the economy rebounds.
Watch the video below of Leslie Moeller, VP Booz and Co. to hear his thoughts on using the current consumer behavior to capture new customers. Les will also address the ever important challenge of pricing products in a down economy - Is lowering your price the right strategy? And the idea of positioning yourself for success when the economy rebounds.
In the consulting work that I do with independent specialty retailers, I am emphasizing a very personal approach to marketing and the in-store experience. I am recommending that marketing be focused at existing customers, and leveraging those relationships to bring in new customers via special events and referral programs. In this way, independent specialty retailers can refocus the value proposition away from price onto the qualities that truly differentiate them.
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