Roof tiles, sunflower oil, airport personnel, computer chips, houses, professionals, wood or medicines, we are currently seeing major shortages everywhere. A situation that we have not seen since the 1970s. In the 1974 article Marketing during Periods of Shortage, Philip Kotler describes how companies reacted to the Venezuela Phone Number List period of sudden shortages during the first oil crisis. I share three marketing techniques that were (and are now) widely used: scenario planning, product portfolio analysis and customer mix. What companies can learn from the commodities crisis of the 1970s As now,
Why a Squeeze!
Many companies were surprised by the sudden shortages in the market in the early 1970s. While they were still busy with their daily routine of selling, advertising and taking orders, large gaps arose in the supply of the products. Philip Kotler, a renowned author in the field of marketing, describes in 1974Venezuela Phone Number that some companies were better prepared than others. They already had scenarios ready for this situation and were able to adapt their business operations and marketing mix more quickly based on this. 1. Scenario.
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Planning To quickly anticipate change, it helps if you know what changes to expect. Scenario planning makes risks, megatrends, microtrends, uncertainties and their long-term effects tangible. It has a military origin. Since the 1960s, Venezuela Phone Number List governments and business people have been using it to determine their long-term strategy. Shell was one of the first to start doing this. Well before the oil crisis, Shell had already prepared scenarios for the development of the oil market. This enabled the company to respond more quickly to.