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Marketing in times of crisis

Marketing is the process of managing business, which welcomes, offers and delivers what the customer wants with a profit. During a crisis, this process is not easy, because it should be done with limited resources. Yet it is possible and is largely a question of competence.

There are three levels of competence of a successful manager:

  • Economic competence;
  • people management;
  • project management.

Anything that helps a company to move forward, to grow and be profitable is marketing. For each company it is essential to prepare a concept for marketing, most – important first point is the strategy. Especially for smaller companies, which dominate most countries markets, the conquest of business territory is most important. This is such a territory to which the larger players in the business have no interest. It is important that small firms do not try to keep big administration. It is a continuous search and selection of niche markets and always be ready to change niche if any of the big companies stand in their way. The small company has to be very flexible and to continuously seek its advantages and to offer them because it rarely has the resources to protect its business against big players on the market.

The process of sales and marketing must be precise and clear for everyone in the company and they should cooperate fully in wholesale and retail, because the fact is that in times of crisis sales are difficult.

Psychology of customers is such that they like to buy, but not to be sold to them and therefore less willing to enter into direct contact with sellers. We need to optimize sales related to rethinking the interaction between marketing people who directly sell at the company and with its partners.

It is vital that proper study of the needs, the demand for qualified customers anticipating the corresponding costs of the company. Costs in most cases are easier to forecast than revenues. In general, revenues depend on the quality of products and services. Many companies have great products and services, but successful are only those who have great marketing. To be a successful entrepreneur you needs to be able to manage your costs and be able to judge the return on their investments.

Another important point is the Internet and marketing it

Internet is constantly evolving and now it is the best place to advertise your business and get new customers. It is important to know marketing methods, new business models, methods for advertising on the Internet.

Facebook marketing is an unusual solution for advertising on the Internet, which is quite appropriate in times of economic crisis. Overall, to start a business in times of crisis, you must have a well prepared project with a marketing plan having advertising on the Internet in the center of it.

A business project needs money, time and sequence tasks to solve and perform. The main objective of this project is to achieve its goals and objectives within a specified period, following a budget. This budget must be very precise and properly planned so as not to get a gap between the time / funding / tasks, which happens often and can lead to negative consequences. Shortage of funds, especially for small businesses that are starting from scratch in most cases can be compensated at the expense of time and quality, and this is not good.

You should know that especially in times of crisis for a successful start-up it is important to have a good idea, excellent marketing and tireless work.

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