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Printable Handouts
Navigable Slide Index
- Introduction
- The context
- Typical business responses in a crisis
- Four types of consumers in a crisis
- Vulnerable
- Scared thrifty
- Comfortable cautious
- Smart shoppers
- Re-classification of products and services during a crisis
- Two approaches
- Products and services during a crisis (1)
- Essentials
- Essentials table
- Products and services during a crisis (2)
- Treats
- Treats table
- Products and services during a crisis (3)
- Postponables
- Postponables table
- Products and services during a crisis (4)
- Expendables
- Expendables table
- Strategic actions you can take
- Ideas
- Strategy
- Plan
- Potential behaviour in a post-crisis world
- Conclusions
- Thank you
This material is restricted to subscribers.
Topics Covered
- Consumer types in a crisis
- Reaction of businesses during and after a crisis
- Strategic actions during a crisis
- Types of products and services in a crisis
Links
Series:
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Talk Citation
Hanlon, A. (2020, July 30). Managing marketing in a crisis [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved December 9, 2024, from https://doi.org/10.69645/RTXT7290.Export Citation (RIS)
Publication History
Transcript
Please wait while the transcript is being prepared...
0:00
Welcome to this very special session on Managing Marketing in a crisis.
My name is Dr. Annmarie Hanlon,
and I am at the Cranfield School of Management.
We've been looking at what happens in a crisis
to businesses and what action you can take.
0:17
Let's first of all look at the context.
Normal life is not normal in a crisis.
Everything changes.
There can be chaos around in all many ways.
Pandemics erode consumer and business confidence,
buyer power tends to be reduced and that may
mean if you are selling online or you're selling offline,
suddenly you have no or you have significantly reduced sales.
Customer segments also change dramatically during a crisis,
and we'll look at those more shortly.
Buyers also reclassify products and services,
and that's whether your buyers are
traditional consumers or whether it's in a business to business setting.
Overall, the key thing is, we need to adapt.
1:03
There are two typical business responses in a crisis.
The first response is survival.
This leads to stagnation and it's normally
due to overall panic. The main focus is on tactics,
the challenges day-to-day, and there's no overall cohesion or plan or direction,
and it can rapidly change.
The survival response does not help staff,
and it also does not help your customers.
The second response is strategy and planning,
and this actually leads to growth,
and there is further evidence of this in the research.
Strategy and planning leads to shared values where you have management teams,
where you have directors who are demonstrating and leading from
the front and explaining what's important and what matters to them right now.
It also promotes confidence.
It demonstrates trust, and it also understands and embraces
the changed lifestyles rather than trying to stick
to the traditional in the pre-crisis situation.
Using time in a crisis to plan is using the time wisely,
and there are a few organisations that do that.