How can I cut costs during a market downturn?

July 25, 2001


Date:  Thu, 5 Apr 2001
From:  Gerry

Hi,

I enjoyed the article. Do you know where I could information on practical ways for managers to react during market downturns. Suppose there is no "War chest."

Thanks

Gerry

Answer

Date:  Wed, 25 July 2001

Hello Gerry,

I don't have an easy answer for you.

Consider looking through the business section of your library or bookstore.

One thing I can tell you. Don't eliminate your marketing budget. It's like cutting your own throat. Just be sure it is being spent wisely in ways you can measure effectiveness. This means using direct marketing.

Also, remember that if you cut out all of a business's expenses, there is no business left.

Good luck!

Mike Gray

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