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Marketing in an Economic Downturn – Challenges and Opportunities: Marketing in an Economic Downturn

Marketing in an Economic Downturn – Challenges and Opportunities: Marketing in an Economic Downturn

Pratap Chandra Mandal
Copyright: © 2020 |Volume: 1 |Issue: 1 |Pages: 11
ISSN: 2644-2094|EISSN: 2644-2108|EISBN13: 9781799803539|DOI: 10.4018/IJBSA.2020010104
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MLA

Mandal, Pratap Chandra. "Marketing in an Economic Downturn – Challenges and Opportunities: Marketing in an Economic Downturn." IJBSA vol.1, no.1 2020: pp.46-56. http://doi.org/10.4018/IJBSA.2020010104

APA

Mandal, P. C. (2020). Marketing in an Economic Downturn – Challenges and Opportunities: Marketing in an Economic Downturn. International Journal of Business Strategy and Automation (IJBSA), 1(1), 46-56. http://doi.org/10.4018/IJBSA.2020010104

Chicago

Mandal, Pratap Chandra. "Marketing in an Economic Downturn – Challenges and Opportunities: Marketing in an Economic Downturn," International Journal of Business Strategy and Automation (IJBSA) 1, no.1: 46-56. http://doi.org/10.4018/IJBSA.2020010104

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Abstract

The business environment is uncertain. It becomes even more turbulent during recession. This uncertainty directly affects the investments made by firms. Firms hesitate to invest during a recession because of the belief that the returns will not be commensurate with the investment made. Nevertheless, there are firms which develop strategies and invest during recession. The article discusses various strategies which firms may adopt to survive and also excel during recession. The advantages and the disadvantages of the following those strategies are discussed. The article also focuses on firms which implemented strategies to overcome recession and established themselves in the minds of customers. This article might help firms and practitioners in identifying the most effective strategies to be adopted for excellence during an economic downturn.