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Institute argues that marketing principles can lead to recovery
2 July 2009 – The Chartered Institute of Marketing in Ireland has published the first of a series of position papers on the theme of ‘Revenue Generation for Recovery’. The first paper, subtitled ‘Using Marketing Principles to Grow Our Way Out of Recession’, has been developed as a management aid for professional marketers and businesses in Northern Ireland and the Republic of Ireland in addressing the challenge of recession.
With contributions from leading thinkers and practitioners throughout Ireland, the purpose of the position paper is to both provide professional marketers with a clearer understanding of the dynamics of change that has marked this recession; and to encourage businesses to adopt revenue generation strategies that can work for them.
The Institute sets out a powerful case for the key role marketers have in driving recovery in their businesses and examines how businesses can grow their way out of recession.
Commenting on the launch Michael Maguire, regional director of The Chartered Institute of Marketing in Ireland, said;
While it is appropriate for management to institute fiscal prudence at such times, cost containment measures alone are unlikely to provide a route to success. Companies need to adopt clear recovery strategies that centre on profitable revenue generation that is market led and marketing driven.
Both businesses in Northern Ireland and the Republic of Ireland are experiencing a period of extended economic turbulence that is affecting the size, structure and dynamics of markets served by businesses. The speed with which those markets readjust has prompted widespread trauma, particularly among smaller companies as they struggle to find a business model that can give them stability. This position paper can help develop such a model.
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