Because of the devaluation of the Thai baht over the past six months, the boost in baht terms is close to 60%. ``For every downturn there are opportunities, especially for businesses with access to capital,'' said Earl Kaiser, president of the Thai company. ``We will have more press conferences, more ads, more public relations campaigns and more industrial clinics to introduce us to customers.''
Mobil has relatively few gas stations in Thailand and plans to halve the number of new stations it was planning for next year to between six and 10 stations. The company makes most of its profit in the sale of lubricants and most of the new promotional budget will be directed to that sector of its business.
Mobil Oil Corp.'s ad agency is DDB Needham Worldwide, which operates in Thailand through Spaulding & Hawi (DDB).
Copyright December 1997, Crain Communications Inc.