Marketing in Times of Crises

Research Article
Open access

Marketing in Times of Crises

Yonglin Chen 1 , Zidong Fu 2* , Mengchuan Fu 3 , Zijun Zhou 4 , Dandan Wang 5
  • 1 Shenzhen international foundation college    
  • 2 Rachel Carson College University of California    
  • 3 Fuzhou Walton International college Fuzhou    
  • 4 ShenZhen middle school    
  • 5 The university of Manchester    
  • *corresponding author uzfoni@163.com
Published on 13 September 2023 | https://doi.org/10.54254/2754-1169/14/20230803
AEMPS Vol.14
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-71-3
ISBN (Online): 978-1-915371-72-0

Abstract

Changes in the environment affect enterprises in different industries. The Covid-19 crisis has been a challenge for companies in recent years, and this article is based on it. This work analyzes Chinese companies in four different industries: LaoXiangji, Freshippo, Xibei, and Shanghai Mandarin Oriental Hotel; they all survived in times of crisis. Based on the analysis and further discussion of the four companies' responses and strategies in the face of COVID-19, enterprises may need to establish strategic alliances, meet the psychological needs of consumers, pricing strategies, and develop new business models. A hostile macro environment can lead to large numbers of companies going into debt and closing down. Therefore, leaders need to make decisions quickly and correctly. Although the suggestions are suitable for most industries, companies must consider the environment and industry characteristics to make unique decisions with competitive advantages to improve competitiveness and reduce the impact of the crisis.

Keywords:

crisis, Covid-19, marketing strategy, survive

Chen,Y.;Fu,Z.;Fu,M.;Zhou,Z.;Wang,D. (2023). Marketing in Times of Crises. Advances in Economics, Management and Political Sciences,14,123-130.
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References

[1]. Shanon, Alter. (2009). Techniques For Tough Times.

[2]. Quelch, J., Jocz, K. (2009). How to Market in a Downturn'. https://hbr.org/2009/04/how- to-market-in-a-downturn-2

[3]. Wreden, Nick. (2022). How to Think about Pricing Strategies in a Downturn. https://hbswk.hbs.edu/archive/how-to-think-about-pricing-strategies-in-a-downturn-your-best-downturn-strategy-think-twice-about-price-cuts

[4]. Raggio, Randle & Leone, Robert. (2009). Postscript: Preserving (and growing) brand value in a downturn. Journal of Brand Management, 17: 84-89.

[5]. Brata, A.M. (2010). Psychological Sale During Crisis. Agricultural Management / Lucrari Stiintifice Seria I, Management Agricol, Vol. 12 Issue 2, Special section: 1-6.

[6]. Ji, Xf., Shen, Hn. (2013). Erratum to: The Research of “Crossover” Marketing Strategy. https://doi.org/10.1007/978-3-642-38442-4_151

[7]. Loureiro, S., Kaufmann, H., & Vrontis, D. (2012). Brand Emotional Connection and Loyalty. Journal of Brand Management, 20: 13.

[8]. Notta, O., Vlachvei, A. (2015). Changes in Marketing Strategies during Recession. Procedia Economics and Finance, 24: 485-490.

[9]. O’Malley, L., Story, V., O’Sullivan, V. (2011). Marketing in a recession: retrench or invest? Journal of Strategic Marketing, Vol. 19, No. 3: 285–310.

[10]. Xiao, X. (2021). Analysis of Brand Crossover Marketing Strategy: Taking M·A·C and Honor of Kings as an Example. Atlantis Press International B.V., Advances in Economics, Business and Management Research, volume 185: 468-473.

Cite this article

Chen,Y.;Fu,Z.;Fu,M.;Zhou,Z.;Wang,D. (2023). Marketing in Times of Crises. Advances in Economics, Management and Political Sciences,14,123-130.

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The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the 2nd International Conference on Business and Policy Studies

ISBN：978-1-915371-71-3(Print) / 978-1-915371-72-0(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://2023.confbps.org/
Conference date: 26 February 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.14
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Shanon, Alter. (2009). Techniques For Tough Times.

[2]. Quelch, J., Jocz, K. (2009). How to Market in a Downturn'. https://hbr.org/2009/04/how- to-market-in-a-downturn-2

[3]. Wreden, Nick. (2022). How to Think about Pricing Strategies in a Downturn. https://hbswk.hbs.edu/archive/how-to-think-about-pricing-strategies-in-a-downturn-your-best-downturn-strategy-think-twice-about-price-cuts

[4]. Raggio, Randle & Leone, Robert. (2009). Postscript: Preserving (and growing) brand value in a downturn. Journal of Brand Management, 17: 84-89.

[5]. Brata, A.M. (2010). Psychological Sale During Crisis. Agricultural Management / Lucrari Stiintifice Seria I, Management Agricol, Vol. 12 Issue 2, Special section: 1-6.

[6]. Ji, Xf., Shen, Hn. (2013). Erratum to: The Research of “Crossover” Marketing Strategy. https://doi.org/10.1007/978-3-642-38442-4_151

[7]. Loureiro, S., Kaufmann, H., & Vrontis, D. (2012). Brand Emotional Connection and Loyalty. Journal of Brand Management, 20: 13.

[8]. Notta, O., Vlachvei, A. (2015). Changes in Marketing Strategies during Recession. Procedia Economics and Finance, 24: 485-490.

[9]. O’Malley, L., Story, V., O’Sullivan, V. (2011). Marketing in a recession: retrench or invest? Journal of Strategic Marketing, Vol. 19, No. 3: 285–310.

[10]. Xiao, X. (2021). Analysis of Brand Crossover Marketing Strategy: Taking M·A·C and Honor of Kings as an Example. Atlantis Press International B.V., Advances in Economics, Business and Management Research, volume 185: 468-473.

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