Marketing Management in global economic crisis
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1. Discuss how the global economic crisis has impacted the way company's market their products/services.
2. Discuss how customers can influence the products and services provided by companies.
3. Identify ways that a company can make marketing every employee's responsibility.
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Solution Summary
The global economic crisis has shrunk the disposable incomes of most consumers; as a result, consumers are seeking durable goods and meet the basic needs of their families. This phenomenon of consumer shifts from luxury goods and trend goods and status goods, to more practical and long lasting ...
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Marketing Management
1. Discuss how the global economic crisis has impacted the way company's market their products/services.
The global economic crisis has shrunk the disposable incomes of most consumers; as a result, consumers are seeking durable goods and meet the basic needs of their families. This phenomenon of consumer shifts from luxury goods and trend goods and status goods, to more practical and long lasting goods, is universal so multi-national companies have to take this into consideration as they seek to design or adapt US products for other national markets around the world. The common denominator among all consumers is now prudence in purchasing.
In response to the shift in the global market temperament, there has been a shift in the way goods and services are marketed. The basket of goods can remain the same but the attributes which relate to the ...
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