Americans are spending as much as 57 cents per consumer dollar on necessities, according to some estimates. As discretionary spending drops, brands are focusing on value and price to try to retain consumers and even grow market share. Some marketers see the economic downturn as a growth opportunity. "These are the times when the best marketers thrive," Gary Stibel, CEO of The New England Consulting Group, says. "The smart money takes more aggressive pricing than average and then spends it back to grow share, even if it means taking a hit on earnings."
Published in Brief: