The Turkish economy seems to have entered a period of crisis with the shock fluctuations in the foreign exchange market. It is very difficult to predict how long this period will last and how it will end. Especially with the tensions with the US. The economic crisis image blended with the political crisis, making it even more difficult to predict how the upcoming process will proceed!
The significant depreciation of the
Turkish Lira against the dollar and the Euro has deeply affected all sectors and markets in the economy.
The basic fuel of the cyprus number data economy is “expectation”… If the expectation is positive, the wheels start turning quickly; investment decisions! bank credit usage. Borrowings. And spending increase, fed by this positive expectation. If the expectation is negative! these wheels turn in the opposite direction. There is a sharp brake on investments. Spending, and borrowings.
Expectations are quite negative these days… The big change in foreign exchange has significantly affected costs and pricing in all sectors.
In shor. shock is taking place.
Companies with production costs in how ukrainian companies can build successful marketing strategies to enter new markets foreign currency and sales in TL have been particularly affected by this situation.
In conditions where consumption trends have slowed down dramatically or even stopped due to the crisis. Companies are starting to have difficulty managing their marketing and sales processes.
Anxiety and stress affect the demand for products and services, and it becomes difficult to determine the price at which the “sale” will take place during the peak days of the crisis. This is valid for both the consumer and the producer and seller.
Obviously. Such processes can bring about major bankruptcies and destruction, but they can also bring about major opportunities for other companies. Companies that do not have foreign currency debt or have high foreign currency savings gain major advantages.
From a consumer perspective, there may be a great advantage for those who keep their savings in foreign currency.
WHAT STRATEGY SHOULD BE FOLLOWED IN ADVERTISING?
So, how should companies manage their marketing and sales processes and what kind of strategy should they follow in crisis conditions?
Two types of analysis are of great importance here: macro analysis and micro analysis.
Macro analysis is the ability to analyze how the crisis process in the general economy may progress. For example, is there a in number list potential for the currency to continue to fluctuate. Or has there been a sudden increase and is there a possibility of a new equilibrium being formed at this level?
Perhaps the biggest obstacle of the process is that this uncertainty turns into a strong expectation. In such cases, all shopping turns almost entirely into cash and turns into transactions
Micro analysis is based on the analysis
of the company’s current structure. Stopping or reducing production/service, costs and pricing are determined according to this analysis.
