mbaNEWS: The recent economic crisis caused as a result of the US sanctions in 2018, structural problems and vast geopolitical developments, has led to widespread changes in the economic arena in Iran. As a result of those sanctions, most foreign companies have left Iran, and domestic manufacturing companies have faced severe crises. Such crises are partly due to the problems in supplying raw materials and partly as a result of changing consumer behavior. Fixed and unchanged income of the households, together with high inflation, has led many markets to stagnation. Consumers simply cannot generate more money and therefore need to change their expenditure patterns.

Under these circumstances, the main concern of all business owners, in particular companies and manufacturing plants, in addition to survival, is gaining a market share, increasing revenues, and appearing stronger and more competitive under recession.

Fortunately, this is not the first economic crisis. The history of economy is full of such crises. We can gain valuable experiences by looking at the crisis in Iran over the past years, the 2007 global economic crisis, and other crises. We can learn a lot by examining examples of successful international and Iranian companies that managed to overcome the crises and appear even more powerful than before.

:Experience shows that at the time of crisis, consumers change their behavior substantially which can include changes shown below

Change in the values of life and consumer concerns that would affect their understanding of the benefits offered by brands

Change in the relationship between business brands

Change in the behavior of consumer product groups, such as stopping purchases, reducing consumption or buying cheaper brands
hange in consumer purchasing behavior, for example, their repeated purchases become more, they change their shopping channels, they look for discounts/ promotions, purchase smaller packages, or choose larger, higher value packages

It must be noted that the way the customers show reaction and change their consumption pattern vary for different product groups

Companies will win in this environment that can best understand and evaluate consumers, buyers, channels and retailers, and use this information for the creation and activation of detailed plans and with a deep insight for gaining more share, use the small purse of the consumers

The process of matching the companies and the businesses for gaining success in the downturn conditions of the market, is the expertise of the Certius Consulting Company, and we will be beside you until you achieve your goals

Sepideh Sobhi, Media Research Manager of Emrooz Market Research Company (EMRC) said: “With regard to the present changes under the prevailing social conditions and the emergence of behavioral changes in the consumption pattern and household purchase, the Certius Consulting Company together with EMRC have decided to present a new product in the field of market research with an aim of examining such changes and constantly offering the results to the business owners.”

In the new product, called WIN IN CRISIS TRACKER, the behavioral changes of the audience are examined in dealing with consumer goods in various time limits. One of the best uses of this product is during the economic crisis: The crisis that has affected the economy of our country for a period of time and has caused noticeable behavioral changes in consumers. In this study, various issues that have led to the coordination of the consumers with the current economic conditions are analyzed. Cases such as

?Are the consumers, in the current economic conditions, have taken measures to change their brand

?Have the consumers reduced their volume of consumption

?Have they changed their purchasing stores and shopping centers

Have they increased or reduced their number of purchases?
...And

Gerhard Barcus, the Managing Director and the investor of Certius, further elaborating on this issue, said: “Companies have three options in dealing with the current crisis. They can get out of the market, they can fight and make efforts for survival, or invest in the market to become stronger and gain a lot of benefits when the crisis subsides. In order to grow and increase your market share, first you need to know how consumers change and under the present condition what is important to them. This would enable you to adapt your products, categories, package size, prices, promotions and advertisements with them. The WIN IN CRISIS TRACKER will put at your disposal all the factors you need to come out of the crisis successfully.”

Russell McKee, an international consultant in the field of insight, strategy, and marketing, who in line with studying the WIN IN CRISIS TRACKER puts his expertise at the disposal of the two companies, says: “The economic crisis affects the lives of consumers at a very personal level. Their personal needs and, consequently, the choice of brands and stores will be changed for them. This is evident throughout the world. However, crisis is different in each country. Understanding this local impact and the way the consumers respond to it, enables the brands to be responsive to the needs and new choices of their consumers. This study has been designed to provide this insight design.”

This research project will be implemented in six major cities of Iran and among those who are the main buyers in the household. The participants in this study all play a key role in changing household behavior and consumption. The questions presented in this study have been completed in the two forms of telephone interview and transmission of internet questionnaires.

The data obtained in the first phase of this study show that 65% of the Iranian consumers feel that their lives are severely affected by the crisis, and 71% of them are very worried about the future. Also, the research shows that about 60% of consumers of the product group X are ready to change their brand in order to reduce their consumption costs. And about 70% of the consumers of the product group Y have changed their stores in order to find products at lower prices.

In conclusion, Sobhi said: “The two companies are planning to repeat the research on a quarterly basis and review behavioral and consumption changes of the consumers. Business owners by receiving information from this research will become further acquainted with the behavioral change of the consumers and therefore can adopt a suitable strategy in line with the changes sooner than it is expected.”

.The results of the first round of the study are currently available to the applicant companies