Live for today!

John Quelch, a Marketing Professor from Harvard Business School in a recently published HBR article argued that in a recession, consumers should be segmented by how they emotionally react to this challenging environment than by demographics. He identified 4 types consumer groups based on their reactions to the recession:

• Slam on the breaks
• Pained but patient
• Live for Today
• Comfortably Well placed

If i look around, i can see all these types in my office alone. There are people who have suddenly stopped eating out, some who have cut down on spending and others who are'nt affected at all.

As for the" Live for Today" group, the Professor says that this group will continue their pre-recession lifestyle until they lose their jobs.

May this tribe increase and not lose thier jobs, so that there is spending and we can get out of the recession..

I Heard It Through The Grapevine

"People say believe half of what you see, son

And none of what you hear

But I can't help bein' confused

If it's true please tell me Sir

Do you plan to let me go

For the other guy you hired before?"

Adapted from the Lyrics of the Marvin Gaye Song : I Heard It Through The Grapevine

Apologies to Songwriters: Norman Whitfield & Barrett Strong

During these challenging times, everybody in the organization seems to think they have a crystal ball and the ability to predict the future! Offices are full of rumors--rumors that are possibly wrong and that create anxiety and conflict for everyone. On part of the management, they assume that the employees know nothing about their plans and it takes them by surprise when they announce a change and it turns out that the employees have known it for days. All the time they would have been blind and deaf, because everyone would have heard it through the grapevine.

Rumors often start because of misunderstandings, or because information wasn't communicated quickly and clearly. Management needs to avoid those traps by instituting regular, easy-to-access communication channels. While you cannot control what employees say, you can monitor the rumors and immediately squelch all the false ones. Management should also realise that in the absence of information, employees will create their own, so they need to make sure they have all the data they need. Employees will keep tuning into the grapevine to know the real story or the "kernel of truth".