Depression represents the most serious economic downturn. Unemployment increases, buying power decreases, and all other economic indicators move downward. Consequently, consumers are unable or reluctant to purchase products, particularly big-ticket items. Also, consumers tend to delay replacement purchases. Although many marketers fail during this period, insightful marketers can gain market share.
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Home » Core Concepts of Marketing » EXTERNAL CONSIDERATIONS IN MARKETING » EXTERNAL FACTORS THAT AFFECT PLANNING » Economic/Political Issues » The Business Cycle
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