Impact of Economic Crisis on Buying Behaviour and Marketing-Mix Tools
International business environment is changing in the context of economic crisis. Consumers react by adapting their buying behaviour from impulse acquisitions to more prudent and rational purchasing decisions. As consumers are buying necessities and have a tendency to migrate to generics or cheaper brands, in recession many companies opt for an assortment selection strategy, withdrawing from the market those products and services that record a visible decline in demand. Price discounts are frequently adopted by companies in order to offset the negative effects of lower demand. Intermediaries with low performances are usually eliminated. Promotional budgets are decreased and mainly allocated to sales promotion techniques.
Year of publication: |
2012
|
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Authors: | Alina, Filip ; Lelia, Voinea |
Published in: |
Ovidius University Annals, Economic Sciences Series. - Facultatea de Ştiinţe Economice, ISSN 1582-9383. - Vol. XII.2012, 1, p. 931-936
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Publisher: |
Facultatea de Ştiinţe Economice |
Subject: | marketing-mix | economic crisis | consumer | buying behaviour | loyalty |
Saved in:
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