A period in which every need and USA Phone Number List whim of the western consumer was met with an inexhaustible supply of ready meals, exotic travel, fast fashion and luxury cars. In the Journal of Marketing of 1974, the now USA Phone Number List 90-year-old Kotler writes that at the time hardly any account was taken of the USA Phone Number List finiteness of this. It was believed that science and technology had a solution for everything. Unexpectedly, the oil crisis hit almost every industry with more demand than supply: from oil, chemicals, electricity, cement, aluminum, copper, paper, textiles, and furniture to toilet bowls.
Markets in which until then people USA Phone Number List were still busy getting rid of surpluses with advanced marketing and sales techniques. Is marketing less important in times of shortages? The reactions to the new reality were USA Phone Number List different. As now, companies introduced purchase USA Phone Number List restrictions for their customers. Others cut the weak products from the range or increased prices to a maximum to maximize profits. Many stopped discounting promotions, cut advertising budgets and reduced the number of sellers. But was that the right response to the situation? Is the role of marketing, sales and advertising less important in times of shortages
‘Of course not’, writes marketing USA Phone Number List strategist Kotler, but the market instruments must be used differently. Abundance in supermarkets, so no scarcity. Techniques to successfully overcome scarcity Time USA Phone Number List proved Kotler right. Companies that did not adapt sufficiently or even USA Phone Number List resisted the new laws of the scarcity economy, came back from a cold fair. Such as the American car industry, where it was realized much too late that motorists were switching en masse to cars from Japan. Cars that were not only more economical, but were also made according to more modern production methods.