Changing Marketing in a Crisis

[subornaakter24]

Marketing in a crisis is the part of the strategy that most companies easily part with. It is logical: no money - save on advertising, because no one needs it. Here lies the main mistake. In a crisis, only those who noticed the iceberg on the horizon in time and informed the helmsman about the change of course survive, and not those who tried to jump into a lifeboat: there are not enough lifeboats for everyone.

When everything goes to hell, don't try to curtail your marketing activities. Of course, this doesn't mean that in times of crisis you need to inflate your advertising budgets. Not at all. You need to act, but not the way you did before, but remembering Agile methodologies and the principles of frugality embedded in them.

The market and external circumstances medical mail list that accompany doing business are very changeable. Therefore, the marketing strategy in a critical situation must change, restructure, and be effective. Marketing in a crisis involves developing ways to respond to changes in the economy, searching for new market segments and opportunities to present your product.

At the same time, in order to take a stable position in the market, it is important to undertake active strategic maneuvers, not to go with the flow, but to influence events with your own actions.

It is precisely through active marketing measures that a company can not only survive during a production downturn, but even benefit from the current situation. In fact, a recession can become a lever of market control for an enterprise, and in order not to lose the resources it has accumulated, it is important first of all not to panic and not to view the crisis as an inevitable collapse of the business.

A good example of not just survival, but also an unprecedented rise after the crisis is Nescafé and Heinz. They thrive thanks to their efficiency and maneuverability. Any business has a chance to take a leading position in the market if you do not slow down and act actively and thoughtfully in a critical situation.

An important point: the essence of a retailer's actions is to sell a product or service to a specific live buyer, and people, it must be admitted, can behave irrationally and unpredictably. This must not be forgotten.

The first thing your clients will feel during a crisis is not economic losses, but emotional stress associated with rising prices, currency fluctuations, layoffs at enterprises, etc. Thoughts about shopping are pushed far into the background.

Even if people's incomes have not yet decreased significantly, they still begin to spend less, switching from premium products to budget options. The consumer carefully considers the feasibility of each purchase and buys only the most necessary, while paying less and less attention to advertising.