Abstract – AOCRJ-V4I1P1

MARKETING TACTICS DURING RECESSION

Waseem Irshad
University of Central Punjab, Lahore, Pakistan

Abstract:
Purpose – This article aims in identifying all elements involved in recession, clarifying their impact on companies & finally recommending strategies for organizations to optimized profits during recession. This study identifies marketing strategies, consumer behavior, problem faced by firms, mistakes made by organizations & possible opportunities/ threats present during recession.
Design/methodology/approach
Qualitative research methodology has been used to have a better insight in this topic. For this purpose extensive literature has been probed.
Findings
Extensive probing in literature shows that consumer behavior trembles during recession, it makes them risk averse, savvy etc. For this organizations are left under demand. The biggest dilemma is organizations immediately start layoffs, no improvement, no innovation & cutoffs. Recommendations given to organization is do not take decision haphazardly, empower employees, enhance their skills, adopt proper marketing tactics, focus on one-to one marketing, make consumer your brand ambassador. During this time marketing through social networking websites are preferred.
Research limitations/implications
Constraints of data being old in qualitative study cannot be neglected. However this research helps students, business men and policy makers in knowing different spending patterns during recession. This research also opens new avenues for organizations which are looking at recession as only being a downfall. Finally, looking into the issues pertaining to successful factors to be adopted during recession it provides organizations with a better understanding of such issues and assists in planning and control process.

Key Words: Marketing tactics, recession, strategies

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