Green salad with cherries

Media prices are falling, so advertising becomes more profitable. The combination of low prices on media and weak competition gives companies the opportunity to cheaply grab market share.

Then came truly frightening times for marketing managers. How to respond? What is the optimal strategy? There are several rules of survival in the times of crisis.

Do not panic. Most marketers assume that during the crisis consumers have sharply cut their spendings. In fact, consumer spendings rarely really fall, they simply grow more slowly, not at the pace of inflation.

Cut the correct costs. To the right are the administrative costs and even reduction of volumes of manufacture. It is impossible to start saving on quality of a product or its promotion.

If you don't have money on a rainy day, in case of an emergency (e.g. emergency of car repairs) you have to pay by credit card or get into new debts. Keep on account of at least $1000 in case of unexpected expenses. And gradually increase the "airbag" to an amount equal to your income for up to three-six months.

"Usually when people plan to invest, they only think about profit and they don't think that loss's possible", says Harold Evensky, the President of the financial management company Evensky & Katz. He said that sometimes people do not do basic mathematical calculations.

For example, forgetting that if in one year they lost 50%, and the following year they received 50% of the profits, they did not return to the starting point, and lost 25% savings. Therefore, think about the consequences. Get ready to any options. And of course, it would be wiser to invest in several different investment objects.

"When people borrow, they think that they should return it as soon as possible," said Sofia Bera, a certified financial planner and founder of Gen Y Planning company. And at its repayment spend all that earn. But it's not quite rationally ".

Reduce of advertising costs inevitably will reduce your income. This is the easiest and fastest way to cut costs, but the reckoning is inevitable. Studies have shown that firms that reduce advertising costs during a recession typically experience 20-30% decline in sales and earnings over the next two years.

Cold calculation or intuition?
"Maximum results" is a wide concept. What do professional marketers deal with?
At first glance, their work looks pretty boring. Thay learn what changes occur in the global market, how much the advertising budget of a competiting company grew and how it will affect the business development. On the other hand, each task that they solve requires creativity. How to create branded products, how to conduct an advertising company, how to improve the product, through whom to organize and establish an effective dealer system, where to pave the way for an quick promotion...

The budget is the most basic thing in financial planning. It is therefore especially important to be careful when compiling the budget. To start you have to draw up your own budget for the next month and only after it you may make a yearly budget. The modern market is absolutely unpredictable. And yet it lives according to strict laws. The marketers need to be known to achieve maximum results in their business - that is the main task of the marketer. The marketing is considered to be one of the most promising fields. This confirms the opening of new universities and specialized departments and faculties, where teachers and administration will "make" the geniuses in the field market management. The marketing is considered to be one of the most promising fields.

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