It is a slowdown activity over a long period of time. In the period of recession, the unemployment rate and bankruptcies rise. In every business life cycle, the growth of the industry is measured through the measures like employment generation, Gross Domestic Product (GDP), capacity utilization, investment spending, household incomes, and inflation and business profits. Recessions are believed to be originated by extensive drop in spending. Governments respond to this stage by taking expansionary macroeconomic policies, such as increasing money supply, decreasing taxation and increasing government spending (INSEAD, 2009).
B2B (Business to business) marketing or Industrial marketing is a marketing concept where one company deals their products and services with another company. It is a different marketing approach from B2C (business to customer) marketing where in a company sales its product directly to the end customers.
The activity of marketing is generally divided into four important activities. They are product, price, place and promotion. The marketing managers of each business have to concentrate on these four activities (also known as 4P’s) to sustain in this dynamic world. For the first P, the managers should be looking forward on product quality, brand name, accessories, warranty and services among other things. In price part, managers should go through the price discrimination, price flexibility, bundling, cash and payment system, seasonal pricing etc. On the other hand, distribution channel, transportation and warehousing are the three main aspects for the place segment of marketing mix and lastly in promotional part manager should focus on public relation and publicity.
Product - ECS has three main services namely media services, advertising and marketing services. The company acts as a third part service provides and has clients from the domain of theme parks, universities, garden