Jul 30, 2022
In Interior Design Forum
Shift advertising budget to products that are still available Make up excess stock Excess products often at the end of their life cycle, so advertising has little effect, plus low margins 2. Shift advertising budget to products early in the product life cycle Company emerges from the period of shortage faster and better Short-term effect in turnover is low 3. Shift the advertising budget towards advertising to teach the customer to use the product more economically, or more sustainably Lowers demand for scarce products, reduces the negative effects of less scarce products and generates goodwill Can be experienced as insincere 4. Advertise to defend the company from criticism Recognizes shareholders and employees Long-term effect not demonstrated Scarcity is an opportunity for innovative entrepreneurs Product innovation is an opportunity during scarcity Scarcity is not only a threat, but also offers opportunities for innovative entrepreneurs. High fuel prices make it profitable to switch to more expensive environmentally friendly alternatives. Moreover, a shortage in a market is an indication that the needs of the customer are not being sufficiently met. The marketer job function email list will have to discover new possibilities. This can be done from two directions: 1. Adapt existing products to the situation of scarcity Think of products that use less energy. Back then, old refrigerators were replaced with new ones that used only 1/3 of the power. Insulation material was developed to make houses more energy efficient and Volkswagen and Toyota conquered the American market with small fuel-efficient cars. Now we see homeowners installing solar panels at an accelerated pace. And there is a great demand for software systems that allow you to optimize the energy consumption of buildings and industrial systems. 2. Developing substitutes for scarce products Another way of innovating is to develop alternatives for scarce products. The train as an alternative to the car, vegetable products as an alternative to meat, sweaters against the cold, wind and solar energy as an alternative to fossil fuels.