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Why Economic Downturns are the Best Times to Rebrand or Launch New Initiatives In the midst of economic downturns, uncertainty pervades, and the business landscape seems fraught with challenges. It’s not uncommon for businesses to scale back, entering a type of “survival mode”. However, this can present opportunities for businesses to successfully rebrand or start new projects. Here, we discuss how a comprehensive strategy is instrumental in helping businesses leverage economic downturns for long-term success. Economic Downturns: A Potential Opportunity?
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Leigh Doyle
During periods of economic prosperity, the market is saturated with noise and the advertising space is cluttered. Conversely, an economic downturn sees businesses adopting a conservative approach, leaving a void in the market. This vacant space, accompanied by lower advertising costs and increased availability of market share, offers a valuable opportunity for businesses to enhance brand visibility. Assessing and Mitigating Risks The elevated stakes during economic downturns requires strategic foresight. However, these calculated risks have the potential to catapult businesses into unparalleled growth when the economy recovers.
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