The Marketing Strategy in Times of Crisis

Research Article
Open access

The Marketing Strategy in Times of Crisis

Kailiang Chen 1 , Yilin Cheng 2* , Jincheng Han 3
  • 1 School of Foreign Languages and Literature, Wuhan University, Wuhan, 430072, China    
  • 2 Department of business school, The University of York (United Kingdom), York, YO10 5NH, United Kingdom    
  • 3 Xiaoshan Eighth High School, Hangzhou, 311241, China    
  • *corresponding author 13821969007@163.com
Published on 24 April 2023 | https://doi.org/10.54254/2754-1169/5/20220087
AEMPS Vol.5
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-21-8
ISBN (Online): 978-1-915371-22-5

Abstract

Throughout the article, we focus on the business situation of the catering industry before and after COVID-19, intending to investigate what strategies could use in the catering industry to survive. the essay aims to investigate strategies and solve the current problems we are facing, the restaurant industry can use to survive through these difficult times. In the literature review section, it is, therefore, necessary to summarise the solutions that have been developed for each industry through the marketing mix in the context of the epidemic. To get a clear explanation of how the restaurant industry has solved its problems, we took the example of Haidilao Hotpot and interviewed customers and employees in the industry, combining their answers and marketing mix to summarise the current solutions used by Haidilao Hotpot and recommend these solutions to other restaurant industries as a reference. And we recommend these solutions to other catering industries as a reference.

Keywords:

catering industry, crisis management, marketing mix

Chen,K.;Cheng,Y.;Han,J. (2023). The Marketing Strategy in Times of Crisis. Advances in Economics, Management and Political Sciences,5,248-258.
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References

[1]. Chinese Cuisine Association. 2022. Report of 2020 Covid-19 pandemic impact on Chines catering industry. [online] Available at: <http://www.ccas.com.cn/site/content/204393.html> [Accessed 12 October 2022].

[2]. Li Zhimeng and Sheng Fangfu, 2020. Impact and response of Covid-19 on Chinese industries and consume. Jiangxi Social Science, 40(3), pp.5-15.

[3]. Wang J., Qi H., Bao L., Li F and Shi Y., 2020. The contigency plan for management of the 2019 novel coronavirus outbreak in neonatal intensive care units. Available at: https://www.thelancet.com/journals/lanchi/article/PIIS2352-4642(20)30040-7/fulltext

[4]. Zsidisin G., Panelli A and Upton R. Purchasing organisation involvement in risk assessments, contigency plans, and risk management: an exploratory study. Available at: https://www.emerald.com/insight/content/doi/10.1108/13598540010347307/full/html

[5]. Bloom, M. and Menefee, M., 1994. Scenario Planning and Contingency Planning. Public Productivity &amp; Management Review, 17(3), p.223.

[6]. Nikbin, D., Iranmanesh, M., Ghobakhloo, M. and Foroughi, B., 2021. Marketing mix strategies during and after COVID-19 pandemic and recession: a systematic review. Asia-Pacific Journal of Business Administration,.

[7]. Ang, S., 2001. Crisis marketing: a comparison across economic scenarios. International Business Review, 10(3), pp.263-284.

[8]. Tsafarakis, S., 2015. Redesigning product lines in a period of economic crisis: a hybrid simulated annealing algorithm with crossover. Annals of Operations Research, 247(2), pp.617-633.

[9]. Morbey, G. and Dugal, S., 1992. Corporate R&amp;D Spending During a Recession. Research-Technology Management, 35(4), pp.42-46.

[10]. Notta, O. and Vlachvei, A., 2015. Changes in Marketing Strategies during Recession. Procedia Economics and Finance, 24, pp.485-490.

[11]. Hassler, M., 2003. Crisis, coincidences and strategic market behaviour: the internationalization of Indonesian clothing brand-owners. Area, 35(3), pp.241-250.

[12]. O'Malley, L., Story, V. and O'Sullivan, V., 2011. Marketing in a recession: retrench or invest?. Journal of Strategic Marketing, 19(3), pp.285-310.

[13]. Srinivasan, R., Rangaswamy, A. and Lilien, G., 2005. Turning adversity into advantage: Does proactive marketing during a recession pay off?. International Journal of Research in Marketing, 22(2), pp.109-125.

[14]. Doyle, P., 2000. Value-based marketing. Journal of Strategic Marketing, 8(4), pp.299-311.

[15]. Bromiley, P., Navarro, P. and Sottile, P., 2008. Strategic business cycle management and organizational performance: a great unexplored research stream. Strategic Organization, 6(2), pp.207-219.

[16]. Quinn, P., 2022. Global Product Placement Spend Surged 12.3% in 2021, After Worst Decline in PandemicStruck 2020; Spend to Grow at Faster 14.3% in 2022, Fueled By Digital, TV, Music. [online] PRWeb. Available at: <https://www.prweb.com/releases/2022/8/prweb18838348.htm> [Accessed 7 October 2022].

Cite this article

Chen,K.;Cheng,Y.;Han,J. (2023). The Marketing Strategy in Times of Crisis. Advances in Economics, Management and Political Sciences,5,248-258.

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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 2022 International Conference on Financial Technology and Business Analysis (ICFTBA 2022), Part 1

ISBN：978-1-915371-21-8(Print) / 978-1-915371-22-5(Online)
Editor：Javier Cifuentes-Faura, Canh Thien Dang
Conference website: http://www.icftba.org
Conference date: 16 December 2022
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.5
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Chinese Cuisine Association. 2022. Report of 2020 Covid-19 pandemic impact on Chines catering industry. [online] Available at: <http://www.ccas.com.cn/site/content/204393.html> [Accessed 12 October 2022].

[2]. Li Zhimeng and Sheng Fangfu, 2020. Impact and response of Covid-19 on Chinese industries and consume. Jiangxi Social Science, 40(3), pp.5-15.

[3]. Wang J., Qi H., Bao L., Li F and Shi Y., 2020. The contigency plan for management of the 2019 novel coronavirus outbreak in neonatal intensive care units. Available at: https://www.thelancet.com/journals/lanchi/article/PIIS2352-4642(20)30040-7/fulltext

[4]. Zsidisin G., Panelli A and Upton R. Purchasing organisation involvement in risk assessments, contigency plans, and risk management: an exploratory study. Available at: https://www.emerald.com/insight/content/doi/10.1108/13598540010347307/full/html

[5]. Bloom, M. and Menefee, M., 1994. Scenario Planning and Contingency Planning. Public Productivity &amp; Management Review, 17(3), p.223.

[6]. Nikbin, D., Iranmanesh, M., Ghobakhloo, M. and Foroughi, B., 2021. Marketing mix strategies during and after COVID-19 pandemic and recession: a systematic review. Asia-Pacific Journal of Business Administration,.

[7]. Ang, S., 2001. Crisis marketing: a comparison across economic scenarios. International Business Review, 10(3), pp.263-284.

[8]. Tsafarakis, S., 2015. Redesigning product lines in a period of economic crisis: a hybrid simulated annealing algorithm with crossover. Annals of Operations Research, 247(2), pp.617-633.

[9]. Morbey, G. and Dugal, S., 1992. Corporate R&amp;D Spending During a Recession. Research-Technology Management, 35(4), pp.42-46.

[10]. Notta, O. and Vlachvei, A., 2015. Changes in Marketing Strategies during Recession. Procedia Economics and Finance, 24, pp.485-490.

[11]. Hassler, M., 2003. Crisis, coincidences and strategic market behaviour: the internationalization of Indonesian clothing brand-owners. Area, 35(3), pp.241-250.

[12]. O'Malley, L., Story, V. and O'Sullivan, V., 2011. Marketing in a recession: retrench or invest?. Journal of Strategic Marketing, 19(3), pp.285-310.

[13]. Srinivasan, R., Rangaswamy, A. and Lilien, G., 2005. Turning adversity into advantage: Does proactive marketing during a recession pay off?. International Journal of Research in Marketing, 22(2), pp.109-125.

[14]. Doyle, P., 2000. Value-based marketing. Journal of Strategic Marketing, 8(4), pp.299-311.

[15]. Bromiley, P., Navarro, P. and Sottile, P., 2008. Strategic business cycle management and organizational performance: a great unexplored research stream. Strategic Organization, 6(2), pp.207-219.

[16]. Quinn, P., 2022. Global Product Placement Spend Surged 12.3% in 2021, After Worst Decline in PandemicStruck 2020; Spend to Grow at Faster 14.3% in 2022, Fueled By Digital, TV, Music. [online] PRWeb. Available at: <https://www.prweb.com/releases/2022/8/prweb18838348.htm> [Accessed 7 October 2022].

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