StudentShare solutions
Triangle menu

Effects of the 2007 2009 Recession on Strategic Marketing Management Practices - Essay Example

Not dowloaded yet

Extract of sample
Effects of the 2007 2009 Recession on Strategic Marketing Management Practices

The consumption per user growth rate of the industry dropped to 0.7% in 2008 from 1.4% in 2007, and continued to drop steadily throughout half of the following year. In addition, the average per unit price declined significantly in the course of the recession period as consumers switched to low-priced brands due to reduced disposable income (Glamface, 2013, n.p).
The marketing challenges that Revlon faced during and after the recent recession were not only caused by the reduced consumer spending, but also due to strong competition from the major players in the industry. According to Glamface (2013), Revlon is only a middle-level player in the cosmetics industry and is not able to invest as large amounts in research and development as the larger players such as L’oreal (LRLCY) and Proctor & Gamble. In addition, competition from smaller competitors than Revlon such as Avon and Estee Lauder Companies increased.
Conclusion
Revlon’s performance in the beauty industry has improved significantly since the initiation of its adapted strategic marketing management practices to cope with the effects of the 2007 – 2009 financial and economic crises. Revenue and Market share have increased significantly, indicating that adjustment of marketing practices are crucial for businesses to overcome the challenges of recession. ...Show more

Summary

The dynamic nature of all types of markets in the modern world has raised the need for organizations to acknowledge the importance of strategic marketing management. A marketing strategy considered cost-effective today may not be relevant tomorrow…
Author : kozeyprice
Effects of the 2007 2009 Recession on Strategic Marketing Management Practices essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Effects of the 2007 2009 Recession on Strategic Marketing Management Practices"
with a personal 20% discount.
Grab the best paper

Related Essays

What is the result of the credit crunch, a recession or a depression Recession of 2007-2009 and Great Depression
For many investment banks, even the value reduction of assets did not prove to be sufficient enough to protect them for the severity of the global financial crunch. It looked as the investment banks were struggling to fight for their existence; they were trying to stay alive and remain a part of the financial world.
6 pages (1500 words) Essay
The Influence of Technology on Contemporary Strategic Marketing Management Practices
In all fairness, a large number of existing companies have survived by restructuring or improving business practices and operations integrating computer-aided design (CAD), just-in time (JIT) manufacturing, and total quality management (TQM). As argued by O’Conner (1998), the “impact of information technology on marketing is dramatic”.1 This essay discusses how technology is affecting strategic marketing management practices.
11 pages (2750 words) Essay
Strategic management
The main aim of this paper is to assess the strategies currently in use at Kepak group in relation to the beef industry, in Ireland, and in the EU, which is its main market. In the course of this assessment, the report tackles opportunities and challenges faced by Kepak Group, as well as the beef industry in order to come up with ways to develop it over the long and medium term.
8 pages (2000 words) Essay
Effects of recession on marketing
Coca cola is another multinational corporation, which employs creative marketing mechanisms during recession. Headquartered in Atlanta Georgia, the company has an international presence in more than two hundred countries. The company has the largest advertising budget in the world.
9 pages (2250 words) Essay
Critically evaluate how the recent recession has been affecting strategic marketing management practices of Apple
Apple began its journey by launching the first Apple computer on the 1st of April, 1976; Apple I was launched, by Steve Wozniak and Steve Jobs (Bellis). Apple I was the first that used a single circuit board, but did not gain attention of the customers until it debuted in the 1977 in one of the local computer trade shows (Bellis; apple-history, 2013).
4 pages (1000 words) Essay
Strategic Business Analysis (Strategic Business Analysis Assignment (2009-DEC Cycle))(3)
However Page was encouraged by his supervisor to carry on with the task. Thus what was initially conceived as a simple idea for his Ph. D. dissertation became the basis of the Google concept. When he teamed up with Brin, a global concept on internet search engine
32 pages (8000 words) Essay
Strategic Management and Marketing
A series of factors have played a role in the achievement of this target: the adoption of effective strategic plans, the close monitoring of the market trends,
6 pages (1500 words) Essay
Not for profit and public sector marketing(Charity Marketing)
e non-profits organizations; the above organizations had to update their strategies, including their marketing campaigns, in order to survive and to stabilize their performance. However, there have been business sectors on which the effects of the crisis have been quite severe.
12 pages (3000 words) Essay
Strategic Management
The company was founded by Gordon Bowker and Jerry Baldwin. The Starbuck Company was originally referred to as Starbucks Coffee, Tea and Spices. In early 1980’s, the company expanded within Seattle area by opening four additional outlets. In
12 pages (3000 words) Essay
2007-2009 Financial Crisis
Thesis statement: The 2007-2009 Financial Crisis resulted in unemployment, banking collapse, and decline in international trade. As pointed out, the financial crisis of 2007-2009
1 pages (250 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT