Firms with the weakest financial structure and lower credit rating, such as SMEs, suffer most. This is not the end of it, as companies big or small do have plans and different ways to face this crisis.
The main purpose of my dissertation is to highlight the marketing strategies that can be implemented in fighting the financial crisis. For most small business owners, marketing is an overwhelming concept. They need marketing solutions that ensure a smooth-running, profitable business and cannot do conventional marketing because of the limitations of resources which are inherent to all SMEs. SME owner/managers behave and think differently from conventional marketing decision-making practices in large companies.
The answer lies in strategic planning that can see one go through in these times of serious downturn. Companies whether big, small or medium need to identify potential risks and affects of recession on their business, they need to stay focused on their goals and offer products or services that are indispensable even in a down economy. While staying focused, you should find ways for a profitable expansion. If you can grow in times of economic recession you will find yourself on the other side of the crisis - ahead of your competition. You just need to change your strategies to adapt to the prevalent situation.
Recession doesn't mean that there are no buyers for your products or ...