Media prices are falling, so advertising becomes more profitable. The combination of low prices on media and weak competition gives companies the opportunity to cheaply grab market share.
Then came truly frightening times for marketing managers. How to respond? What is the optimal strategy? There are several rules of survival in the times of crisis.
Do not panic. Most marketers assume that during the crisis consumers have sharply cut their spendings. In fact, consumer spendings rarely really fall, they simply grow more slowly, not at the pace of inflation.
Cut the correct costs. To the right are the administrative costs and even reduction of volumes of manufacture. It is impossible to start saving on quality of a product or its promotion.