Things to do: Brand Management during recession

Dear all,

Some important steps for brand management during recession...

• Companies should take a good long critical look at their portfolio. Determine what is excess or even damaging to stronger brands and banish it. Use resources to shore up stronger brands.

• In times like these, we will see customers we don't normally see. People who don't normally shop may come and we want everyone to return. Be passionate about your consumers. Brand owners should provide a strong differentiation from other brands and deliver 100% on its brand promise.

• Slash prices to a minimal but don't compromise on quality. Consumers may make due for now, but will inevitably trade up the minute they're able. Give brand some credit as a viable long-term entity.....

I thought this are the important ones. I will add up more to this list but what do you say guys how companies should behave during this challenging times....???

Comments are welcomed....