Crisis marketing: A comparison across economic scenarios

Abstract

During the Asian crisis, consumption was curtailed and businesses changed their marketing strategies to remain viable. A survey was conducted to understand how the crisis has affected consumers and businesses, and how in turn, they respond to it. Comparisons of the impacts and adjustments from the Asian crisis were made across other crises, namely, the 1973 US oil crisis, the 1990 Yugoslavian stagflation, the mid-1980s Filipino stagflation, and the 1989 economic democracy in Eastern Europe. Explanations based on moderating factors such as nature of the crisis, socio-economic characteristics, trade dependencies, market sophistication, and culture are discussed for managerial insights. © 2001 Elsevier Science Ltd.