Knowing And Examining Appropriate Marketing And Sales Strategies During Economic Recession

In economics, a recession is a business cycle contraction that occurs when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock, the bursting of an economic bubble, or a large-scale anthropogenic or natural disaster (e.g. a pandemic). At this point in time, employment is in an unfavorable situation and interest rates are also low. Also, other costs will decrease and the selling price of goods will decrease. The period of recession is also referred to as the period of depression and crisis. This period is opposite to the boom period. During this period, the volume of production and trade decreases, especially in the case of durable goods, so that in the case of some of them, the volume of production usually reaches less than the volume of consumption. Lack of employment during recession leads to lower farm prices and high labor efficiency. The interest rate goes down except in cases where the risk is high. Other costs tend to decrease and will be in line with the selling price. A recession is a situation in the economy in which the demand for goods and services decreases. If the recession deepens, this will cause the number of bankruptcies and unemployment to increase and many companies will face problems. Economic crises occur in different periods and societies and lead to the formation of economic recessions that can cause serious damage to businesses. Businesses that cannot deal with these fluctuations and show appropriate reactions, face issues such as marketing problems in recession, sales during recession and maintaining customer satisfaction, and probably cannot compete with them for a long time. Good luck to other competitors. For this reason, in this article, we have mentioned the strategies and programs that businesses can use to maintain their survival and even grow in the future. Therefore, in this article, we are going to express the marketing strategy during the recession, and accordingly, we will describe definitions such as the definition of recession, types of economic recession, marketing and sales strategies, and definitions related to business indicators. Recession is one of the important issues that is given a lot of attention in Iran in every period, and companies try to save their business from recession and maintain their competitive advantage by properly implementing marketing strategy during recession.

Keywords:

Marketing Mix , Economic Recession , Fast-moving Consumer Goods , Strategy , Marketing and Sales.