CNBC interviewed the CEO of a large brewery last night and asked about whether consumers would give up beer during the economic recession. His response was no, that consumers haven’t stopped buying beer. What they’ve done instead is look for value. In some instances, that means buying cases instead of six-packs in order to get a price break. In other instances, it means trading down from a more expensive import to a less expensive domestic beer.

The lesson here is that this large brewery has a portfolio of products and brands to meet consumers’ wants. So if consumers trade down to a less expensive beer, the company offers a brand at that price point.

Content products are like beer in the sense that positioning them properly is important to their success. Consumers of information are as different as consumers of beer. Some beer drinkers just want a refreshing light lager the way some information consumers just want summaries and tips. Some beer drinkers want an imperial pilsner the way some information consumers want long-form magazine articles.