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My View: Trade must meet new marketing challenges

Published:  18 January, 2007

In uncertain economic times, businesses that reduce marketing spend to achieve a "quick fix" are usually misguided.

Effective marketing can help organisations to cope with the problems of increasingly uncertain and discerning customers and come out in front. This can be done in a number of ways.

Changes in the market should be identified through market research. This information should be analysed and strategies re-aligned rapidly to meet new challenges. Highlighting any products or services that truly add value to their customers, should be drawn to their attention.

In times of uncertainty, successful organisations will be able to recognise and adapt to changing conditions. The faster the change in the environment, the faster the response from the organisation must be.

Dr John Rudd is at Aston Business School and marketing commentator on BBC Five Live