Impact of Economic Crisis on Buying Behaviour and Marketing-Mix Tools

Alina Filip and Voinea Lelia ()
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Voinea Lelia: The Bucharest Academy of Economic Studies, Commerce Faculty

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 1, 931-936

Abstract: International business environment is changing in the context of economic crisis. Consumers react by adapting their buying behaviour from impulse acquisitions to more prudent and rational purchasing decisions. As consumers are buying necessities and have a tendency to migrate to generics or cheaper brands, in recession many companies opt for an assortment selection strategy, withdrawing from the market those products and services that record a visible decline in demand. Price discounts are frequently adopted by companies in order to offset the negative effects of lower demand. Intermediaries with low performances are usually eliminated. Promotional budgets are decreased and mainly allocated to sales promotion techniques.

Keywords: marketing-mix; economic crisis; consumer; buying behaviour; loyalty (search for similar items in EconPapers)
Date: 2012
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