Welcome to part 2 of our series on how to market during a downturn. In part 1, we looked and some examples of why you should increase your marketing budget during a recession and take advantage of your competitor’s silence.
Now, we will help you to better understand the market psychology behind a recession and the new types of customers that emerge as a result. With this knowledge, you will be able to effectively target these new customer segments and maximise your profitability during a downturn, as well as in the recovery period that follows (the downturn won’t last forever).
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