Effects of recession on marketing Essay Example | Topics and Well Written Essays - 2250 words

personal effects of recession on tradeplaceing - Essay ExampleDuring much(prenominal) times, good deal show preference to the canonic fruits and eliminate the secondary harvest-tides most of which they can survive without. This stifles the operation of some manufacturers who operate on such secondary products. Knowing the reduced spending, the companies become more articulating in their expenditures since the market does not promise the sound returns as always. They because plan their spending trying to sell as much of their product in the uncertain times. Companies therefore engage in unorthodox marketing strategies with the aim of improving their product profile and possibly sales. While the market is always compelled to use the basic products such as food products and clothing, the get trend changes and becomes characterized by low rates of purchase and purchase in smaller quantities. The trends worsens for some particular products and services considered secondary by t he markets. Such products include electronic and leisure services thereby hampering the productiveness of the tourism sector. Leisure for example is a mode of relaxation in which people engage during special(prenominal) times. Additionally, such leisure activities are costly and therefore pick out a lot of money. Most people therefore prefer to remain at home and spend three times with their families thereby manner of speaking on the additional and often unnecessary spending through the holidays. Additionally, recessions result in job losses thereby rendering the financial status of some families unpredictable. While they suffer shocks, they detest spending and therefore control their finances stringently often masking preference to the basic products. The reduced market activities require specific marketing strategies to ensure that products and services perform favorably enough to...While this did not change much, the accompany relies on a number of production features to in crease its marketing process thereby increasing its product visibility in the market at relatively lower costs. Among such is the diversification of its products among the different market segments (Bogomolova, 2011). The soft drinks manufacturer produces an assortment of other(a) products under different names thereby increasing its market base. Among its most common products are coca cola from where it borrows the name, sprite and Fanta among other types of soft drinks and enriched waters. Besides the product diversification, the company sponsors a number of different sporting events through its different products thereby earning relevance and acknowledgment among the lovers of such sports. Looking at the activities of the two giant companies one of which is an electronic manufacturer while the other is a beverage manufacturer, it becomes evident that recessions require effective management including reduced spending. The companies understand the essence of ad and therefore spe nd fortunes on increasing their product visibility. During recessions, even the big corporations control their spending showing preference to more productive venture. One of the budgets that such business revise is their advertising budgets. This therefore validates the germinal advertisement mechanisms that some of such corporations employ like the sponsorship deals.