Marketing in an Economic Recession Period

Abstract

At the turn of 2008-2009 the financial crisis has grown into a global recession affecting businesses and consumers of almost all countries. The study examines the impact of the economic crisis on the marketing activity, especially in the CEE countries. Since Europe has experienced the last recession more than fifteen years ago the author tries to find an analogy with the Asian recession. The study comes to the conclusion that marketing used in normal times might be insufficient in downturn and adjustments are needed. The paper goes through the possible changes in consumer behaviour and suggests new sets of marketing methods which can be used during the present economic recession.