Dan Arens
In early October, The Conference Board indicated there is a ninety-six percent chance the United States will experience a recession within the next twelve months. By taking the proper approach, your business can strive to thrive during and after any recession.
As difficult as it is for any business to experience a recession, most businesses have done just that. Not just once, but quite probably, many times. Authors John Quelch and Katherine Jost have studied recessions since the 1970s. In an article published for the Harvard Business Review, they not only observed that each recession is unlike any other, they also suggested there are ways to maneuver and market your company until some level of economic normalcy is regained.
The authors addressed the usual behavior of customers or clients during a recession.
“During recessions, of course, consumers set stricter priorities…
