Do we still have a Free Market System?
Saturday, February 28th, 2009So, some Republicans in the Senate are starting to make a little noise about the “Fairness Doctrine”. I don’t know if it will work or not, or just get shot down in the House, but at least they are taking a stand. What I think some of these folks are forgetting is that the airwaves are an open market. This open market system has proven to be one place where conservatives have managed to thrive. I tend to think that this free market system works pretty well. Conservatives have turned to talk radio, as the majority of mainstream media has a liberal bias (one, that I must point out, seems to be supported by the market). Businesses that are supported by the market do well, as there are consumers out there that want what they are selling. We’ve been doing an awful lot of trying to bolster companies that the market is just not supporting anymore. There are probably deep seeded reasons for this, beyond the flat economy. The economy is a factor, sure, but the companies that are going to go down first are going to be the ones that the market (consumers) have found the least satisfaction with.
We’ve discussed the auto industry at length here. While trying to save the failing auto industry probably seems noble and perhaps even necessary to most people, we have lost sight of what it means to live in a capitalist system. The guy with the best product, the best marketing and the most customers wins. Period. This has worked incredibly well for the past 200 years. Suddenly we are changing the rules. We’re handing tons of money to guys who have proven, repeatedly that they don’t even know what the market wants, let alone how create a product that consumers have faith in. How likely are you to buy a Chrysler now, as opposed to a Ford? Ford is trying valiantly to make it on it’s own, while Chrysler has gone back twice now with their hands out. I don’t know that arguments over which company has a better product even matter at this point, the whole thing comes down to consumer perception. Are you going to buy a car from a company that cannot function without government bailout money? Or would you rather buy from the company that decided it was better to forge ahead without tax payer dollars financing the experiment?
Marketing; it all comes back to this, doesn’t it? So, have you got a marketing strategy in place to help your company survive this recession? Do you have a good angle on who your market is, and how to best reach them? Or have you cut your marketing budget back to bare bones, in hopes that saving that cash will payoff when times get a little tougher? If you are cutting your marketing budget, I really think you should reconsider what your options are. Traditional marketing is expensive, and does not get the return on your investment that you NEED right now. On the other hand, marketing your website to the folks who are actively searching for your product or service could be the boost you need, for a fraction of the cost. Let the market itself dictate who survives the coming months, and who does not. Create a marketing budget that will serve you well, market your site to your consumers, and be one of the companies that stays on top of this fluctuating economy. People still need stuff. People are still buying, they’ll buy from you, if you are the best and most visible in your market.





