Strategic Marketing in Fragile Economic Condition

Strategic Marketing in fragile economic conditions

Abstract

Economic crisis that we survive in at present has great effects in the technique companies perceive the market and characterize and describe their tactics. The main cause behind are the change in consumer activities and the varying changes in purchasing fashion ,due to the damaging consumer assurance and buying command. It is recommended that in period of economic losses, a constant investment on marketing is fundamental and market penetration strategy and product development to take up essential roles. Important growth drivers like product innovation, R&D investment, price penetration, advertising or aligning with new customer requirements through new prospective products in customized fashion become very important in these times.

Keywords

Economic crisis, customized fashion, purchasing fashion, damaging consumer assurance

Introduction

Economic crisis occurs due to a continuous recession in countries or as economists say due to continuous decline in GDP for 2 consecutive years. It is a time when demand invades product, services, and labor too .Due to insolvency in markets today is the main reason why world’s largest bank face losses today has become an unavoidable fact. As a fact decrease in demand due to decrease in buying power got affected. Investments also suffered both internally and externally. It has now become essential to find out what are the reasons affecting the marketing strategy. As a result of which many companies incur heavy losses and some remain undisturbed even in such fragile conditions. Recessions requires to analyze consumer behavior more vividly and therefore change in marketing management should also be taken care of in order achieve objectives. Keeping a clear view on how competitors are interacting with each other also becomes important as there can be a distinctive change in buying behavior of consumers.

Literature review

Marketing literature is...