Business studies help ! (1 Viewer)

[TArep]

What are some good marketing strategies for a company facing bankruptcy? Also, how to improve marketing strategies of a business who's facing bankruptcy? Thanks

 

[alphabetafeta96]

isnt this a trick question? If a business is in decline then they should focus on selling off all of their assets to pay off their debt, not putting resources, money, time etc into marketing.

I suppose if you were to do something then maybe penetration pricing as it allows the business to gain market share+ money fairly quickly.

Anyone else agree with me?

 

[nerdasdasd]

isnt this a trick question? If a business is in decline then they should focus on selling off all of their assets to pay off their debt, not putting resources, money, time etc into marketing.

I suppose if you were to do something then maybe penetration pricing as it allows the business to gain market share+ money fairly quickly.

Anyone else agree with me?

Selling off assets won't increase sales.... At all. It is just delaying the inevitable (closure if they don't reinvent themselves).

With marketing .. Sales may increase if it is successful.

 

[BLIT2014]

marketing strategy
maybe repositioning a product in the market?

You could look about reasons why the business may be experiencing bankruptcy then its easier to think about strategies to combat that

A non marketing strategy is
Restructure the business operation

 

[obliviousninja]

What are some good marketing strategies for a company facing bankruptcy? Also, how to improve marketing strategies of a business who's facing bankruptcy? Thanks

tbh...marketing wouldn't really help.

main operations, financial strategies.

 

[seremify007]

Isn't this a trick question because only natural persons can go bankrupt? Unless we're talking a sole trader.

IMO as others alluded to, the key thing is to get cashflow coming in so that they can repay debts as they fall due. Discounting or repositioning a premium product to get sales volumes and just get cash in the door might be a good strategy.