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What is Recession

Improving Marketing Strategies for Private Label Products
A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
Published in Chapter:
Marketing Strategies with Private Labels During Economic Recession
Niyazi Gümüş (Bolu Abant İzzet Baysal University, Turkey), Fatih Geçti (Yalova University, Turkey), and Ali Yılmaz (Yalova University, Turkey)
Copyright: © 2020 |Pages: 25
DOI: 10.4018/978-1-7998-0257-0.ch006
Abstract
It is important for retailers to be prepared for these difficult times because economic recession periods can cause serious changes in consumer behavior. Private label product strategy is one of these strategies, since the price sensitivity of consumers is increasing during bad economic times. Therefore, retailers have to give more importance to private label products in order to both pull through these difficult times with minimum casualty and increase their market share after these periods. The main purpose of this study is to investigate the marketing strategies of retailers with private label products during an economic recession. In order to reach this aim, several research questions were asked, and the related literature and practices were examined to answer these questions. It is expected that this study will provide a different perspective by contributing to the academicians and practitioners working in this field.
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An Analysis of the Studies in Turkey into Consumer Behavior During Periods of Economic Crisis
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Economic Impacts of the Pandemic on the Tourism of the Developing World: The Case of COVID-19
The two consecutive quarters of declining GDP in which the economy struggles, people lose work, companies make fewer sales and the country’s overall economic output declines pointing to an important fall in economic activity lasting more than a few months that spread across the economy, recognized in some variables such as real GDP, real income, employment, industrial production, and wholesale-retail sales ( https://www.forbes.com/advisor/investing/what-is-a-recession/ ).
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Economic Crisis in Colombia Due to COVID-19: From Pandemic to Post-Pandemic Actions
Reduction of the economic activity of a country during a period of time, it is accepted that it be two quarters to declare it.
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COVID-19 and the Hospitality Industry: The Case of Food and Accommodation Sectors in Turkey
A fall in economic activity reflected by decline in real gross domestic product and negative economic growth.
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Leadership Lessons From Ratan N. Tata
Refers to a significant decline in economic activity in a designated region.
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