DOWNTURN AND EMERGENCE OF NEW AGE MARKETING

Abstract

The great recession gave tough times to marketers. Before that, Indian marketers had vibrant consumer markets highly reinforced by the credit market. Banks played a big role by providing with easy to pay loan facilities. This prompted the consumers to purchase in bulk.

In times of recession, marketers have to sell their products to the consumers who buy out of defense, to avoid trouble or because something will never be as cheap again or buy smaller items for the same sense of reward. This recession must have taught marketers survival tactics. These survival tactics are compiled in this study. During the recession, marketers’ initial step is to cut advertising costs. But this is one of the biggest mistakes that they make during tough times. It is the time when companies can make their brands more visible than their competitors.