Get that out of your mind.
Thoughts of recession suppress demand. In many instances they block consideration in totality.
Enticing discounts, special offers and other incentives can be marginally successful … to a relatively small subset of consumers, usually for a limited time and on occasional circumstances.
The opportunity costs for sellers and buyers are typically appreciable and unfulfilling.
THE LADDER TO DEMAND
Wants, which permeate and dominate life are expendable. In essence, they are not essential. Enforced-choice situations, which are influenced by economic considerations (read: affordable), wants are largely dispelled from consideration.
In short, the time is not right. Their time will come again. With isolated cases those barriers can be fractured and impulse purchase will transpire.
However, there is only so much pain the mind, the budget and hip pocket can endure.
Moreover, the costs involved generating such short-term (often non-repeatable) revenue can be, in relative terms, substantial.
Needs are typically subdued during periods of actual or perceived recessions. Rationality overrules spontaneity and impulse.
The drive to buy and invest is more rational and sustainable than wants. Accordingly, value and satisfaction equations are better fulfilled. Consequential repeat purchases are more probable.
Astute marketers determine how best to effect, articulate and promote favourable purchase criteria. Consumer self-evaluations are important.
It is all in the messaging and packaging. A different perspective can and regularly does, result in different (positive) outcomes.
Determine the “angle” and the justification.
Rights are the optimal state of mind in an environment, economy and marketplace which are mired in doubt, hesitancy and lack of confidence.
Not withstanding the undeniable forces of recession some rights are and are considered to be immutable. Certain rights may need to be nurtured, packaged, endorsed, applauded and profiled.
As a consequence, denial is intolerable, if not unnecessary, regardless of any measure of expected pain or reprioritising.
YOUR CHOICE
Rights, recession, reality, rationalisation, reinforcement and recommendations are an intriguing mix. Collectively, they can and will sustain, if not stabilise demand.
They can achieve “cut-through” in advertising, marketing, merchandising and promotions. The right overwhelms doubt, hesitancy, procrastination, rejection and dismissal. It is a power-combination.
Well-earned rights are powerful forces which focus on factors which exceed and subordinate wants and needs.
Sounds logical. Right.
Go to it. You have earned that right.
Barry Urquhart
Marketing Strategist
Marketing Focus
M: 041 983 5555
E: urquhart@marketingfocus.net.au