During a recession, businesses large and small experience declining sales and profits. Smaller businesses, lacking the scale of larger companies, are even more vulnerable to failure in a downturn.
There are many approaches to combating the downturn. Efforts to cut costs may include layoffs, as currently seen in the tech industry, or reductions in spending, marketing, or research. This article covers how e-commerce brands can increase profits during a recession with two major strategies…..[read more]
What are the differences between the two major pricing strategies and how are they affected by an economic slowdown?
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3 thoughts on “How An Economic Slowdown Affects Pricing Strategy | The Marketing Insider”
Mars and Nestlé both use competition among their own brands to increase overall revenue.
I mean, I think it’s kind of obvious when things are too expensive to buy you stop buying them so intern sales are going to go down so I think companies do need to keep in mind what’s happening in well if you’re doing business globally than any country you have to keep track of the economic trends that are do you in the country because that’s gonna affect who is buying it and if they don’t have enough money to pay for your stuff for then sales are going to go down and revenue might stay the same but you can never know and take the risk and you’ll be known as the company who lowered their prices when everything was going on, which makes a loyal client base, which when everything goes good again when you raise your prices people stick with you
Mars and Nestlé both use competition among their own brands to increase overall revenue. companies do need to keep in mind what’s happening in well if you’re doing business globally than any country