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Importance of Marketing and Advertising during Economic Recession Exploratory Essay


During economic recession, the customer demand rates can decrease significantly. In order to avert the process, specific emphasis should be placed on raising marketing and advertising costs to maintain the popularity of a product or service. Businesses should be aware of the possible fluctuations in customer’s responses to economic downturn.

In particular, they can become critical and more responsible for their purchase decisions. Increased responsiveness to the market environment is explained by clients’ readiness to explore new, more beneficial opportunities. These strategies can be effectively used in carpet cleaning business, which is especially justified during economic recessions.

People who face financial problems are in the search for beneficial and rational solutions. This issue can be considered by carpet cleaning issues as a new basis for advertising campaign. For instance, consumers should not necessarily buy new carpet in case they have a possibility to restore the quality of their old carpets.

Such a service is economically beneficial, and the business will surely find the segment that can take advantage of the offer. The strategy is justified because “those businesses that make a decision to advertise in the face of adversity capture the hope of new customer” (Fritzenkotter, 2009, p. 4). Thus, it is not only a chance to retain the previous clientele, but also a great opportunity to explore new market segments.

There are many cost-effective means of promoting products during recessions. In particular, it is possible to refer to e-mail campaigns spreading evaluable and reliable data about marketing solutions and leading to measurable results. In addition, the option to print advertising brochures has become possible with the development of digital printing technology.

The company’s managers can introduce a range of their services and distribute the information among their customers. In such a manner, the carpet cleaning business can keep achieving the established goals without reducing the marketing budgets.

The art of persuasion during the economic crisis is essential for sustaining a competitive advantage. Therefore, the task of leaders is to convince their customers that their services are much more efficient than other services of the kind. The approach can allow the business to stay afloat and maintain its market share.

Reference

Fritzenkotter, S. (2009). The Logic of Increasing Marketing in an Economic Downturn. Salesperson Monitor, 13(7), 4.

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IvyPanda. (2018, June 19). Importance of Marketing and Advertising during Economic Recession. Retrieved from https://ivypanda.com/essays/importance-of-marketing-and-advertising-during-economic-recession/

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"Importance of Marketing and Advertising during Economic Recession." IvyPanda, 19 June 2018, ivypanda.com/essays/importance-of-marketing-and-advertising-during-economic-recession/.

1. IvyPanda. "Importance of Marketing and Advertising during Economic Recession." June 19, 2018. https://ivypanda.com/essays/importance-of-marketing-and-advertising-during-economic-recession/.


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IvyPanda. "Importance of Marketing and Advertising during Economic Recession." June 19, 2018. https://ivypanda.com/essays/importance-of-marketing-and-advertising-during-economic-recession/.

References

IvyPanda. 2018. "Importance of Marketing and Advertising during Economic Recession." June 19, 2018. https://ivypanda.com/essays/importance-of-marketing-and-advertising-during-economic-recession/.

References

IvyPanda. (2018) 'Importance of Marketing and Advertising during Economic Recession'. 19 June.

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