“Downturn Best Time for a Revamp”
In an article in the May 5 issue of Mint (India), Booz & Company Principal Nikhil Bahadur (India) said that an economic downturn is the best time to create or revive a brand, giving companies an opportunity to make real change rather than investing in routine advertising. “There is no better time than during a recession to create or revive a brand because this is when companies all around are cutting back, the prices are down for advertising and the noise is less, so this is the time to speak out,” said Bahadur who leads Booz & Company’s consumer, media, and retail practice in India. “Also, many Indian companies are expanding and branching out to international markets, which sometimes calls for an image makeover that will help them adapt to other markets.”