Different elements of the marketing mix will be important in different situations. For example, during an economic recession when unemployment is high, ..... are likely to be of most importance.

MARKETING

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Different elements of the marketing mix will be important in different situations. For example, during an economic recession when unemployment is high, ____ are likely to be of most importance.

A	newly developed products
B	up-market retailers
C	lower prices
D	improved promotion and packaging

Explanation:

Detailed explanation-1: -During a downturn, consumers will often “over shop” for the best possible price as brands reduce their price points. Also, bringing new products to market in a downturn is essential for brands seeking to maintain consumer enthusiasm.

Detailed explanation-2: -When the economy is sluggish, people will buy fewer goods and services at a fixed price point. Therefore, demand curves for most products will temporarily shift to the left during a recessionary period. Consumer spending and production generally bounce back due to pent-up demand, but that is not always the case.

Detailed explanation-3: -Fiscal Policy When the country is in a recession, the appropriate policy is to increase spending, reduce taxes, or both. Such expansionary actions will put more money in the hands of businesses and consumers, encouraging businesses to expand and consumers to buy more goods and services.

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MANAGEMENT

BUISENESS MANAGEMENT

MARKETING