The impact of economic downturns on marketing

The Great Recession of 2008–2010 affected the global and U.S. economies and its companies more universally than any economic downturn since the Great Depression. This study explores how the Great Recession influenced the marketing decisions of firms and the resulting long-term effects on marketing w...

Full description

Saved in:
Bibliographic Details
Published in:Journal of business research 2014-01, Vol.67 (1), p.2727-2731
Main Authors: Rollins, Minna, Nickell, David, Ennis, Justin
Format: Article
Language:English
Subjects:
Business to business commerce
Customers
Decision analysis
Economic impact
Global economy
Global financial crisis
Great Depression
Great Recession
Marketing
Marketing expenses
Recession
Recessions
Studies
U.S.A
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The Great Recession of 2008–2010 affected the global and U.S. economies and its companies more universally than any economic downturn since the Great Depression. This study explores how the Great Recession influenced the marketing decisions of firms and the resulting long-term effects on marketing within business-to-business companies. Empirical evidence from previous recessions suggests that companies should focus on their customers and increase their marketing efforts during a recession. However, many companies typically slash their marketing budgets during economic downturns. Authors found that during the Great Recession, companies reacted differently than in previous recessions with their marketing responses. Authors conclude their analysis by proposing that the Great Recession will have three long-term effects on marketing in business-to-business companies.
ISSN:0148-2963
1873-7978
DOI:10.1016/j.jbusres.2013.03.022