Stimulating strategies to survive
Alike other segments of the economy, the prevailing recession, more or less, continues to hinder the acceleration of business in the digital wide-format printing industry, crippling the pulse of every player. To endure the situation, several stringent measures are being taken and strategies are being evolved to properly implement the appropriate initiatives, leaving no stone unturned as to be the fittest is inevitable to the survival.
Cost-cutting is again emerging as the most popular tool to sustain. But to follow the trend blindly tends the problems as happened during the 1930s recession, resulting adverse impact on the sale of products and ultimately loss to business. Taking lesson from the past, this time corporates are also insisting on other options to overcome the economic slowdown-generated clouds in the market but inadequately; they are not coming out from the illusion of the direct measure of cost reduction.
Of course, to reduce cost is quite effective initiative but to some extent and particular areas, not being fit for altogether to all fields of operation. The brands or products promotion through advertising is one of those areas where this tool not only becomes ineffective and unconstructive but also may adversely affect the overall business, influencing the flow of clients.
So, those who are neglecting this fact must ponder over their business strategies to avoid any uncomfortable situation in future. It is rather important for signage industry players, representing the cheapest but ever innovative advertising medium. Taking the advantage of state-of-the-art technologies, they may be saviour to the players pertaining to other industries for slowing down the adverse impacts of recession, promoting their brands and products effectively. Remember, to go slow on the tough but right path is far better than stepping apace but in the wrong direction!
– Sonal Khurana