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Question:
 
Explore how businesses react to changing economic times and the influence this has on product/
 
service positioning in the market place. Consumer spending habits have undergone dramatic and
 
enduring change in the United States.
 
Using online resources, and the Internet, respond to the following:
 
•What risks and opportunities do the three common strategies during recessionary times—
 
retrenchment, investment, and ambidextrous strategies—present to businesses?
 
•What are the factors that are key for establishing product differentiation in the new postrecession consumer environment especially as it relates to economic indicators?
 
•What is a luxury good and should marketers of luxury goods abandon their efforts to establish
 
premium pricing?
 
•How do changes in societal attitudes toward companies and products affect the way marketers
 
of consumer goods think about the customer value chain? Provide examples of companies that
 
have changed their approach to marketing in response to a shift in consumers’ value in changing
 
economic times.
 
Write your initial response in approximately 300 words.
 
Apply APA standards to citation of sources.

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