Customer Behavior - Consumer behavior in recession from Anonymous: MarketingProfs Question 26306

Question

Topic: Customer Behavior

Consumer Behavior In Recession

Posted by Anonymous on 11/5/2008 at 5:10 AM ET 250 Points

I'm greatful for any links to papers or articles on consumer behavior in general during recessions. What happens to spending, what changes in the weight that consumers put to different factors such as price, quality, values etc.? Do consumers think and compare more before spending? What market strategies are more successful in recessions? I have been googling quite a bit, but haven't been very successful. Thanks in advance!

/Anders

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Posted by Jay Hamilton-Roth on 11/6/2008 at 9:48 AM Accepted

Some articles:
https://www.forbes.com/2008/02/14/unsolicited-advice-recession-oped_meb_021...
https://www.usnews.com/Topics/tag/Subject/c/consumer_behavior/index.html
https://topics.nytimes.com/top/reference/timestopics/subjects/c/consumer_be...
Posted on 11/15/2008 at 4:36 PM Accepted

My 2 cents as a consumer.

The state of the economy in general did not change my spending habits. The fact that my housemate was forced to go to part time did. Since this has occured I have been forced to looks for coupons, and better deals. I always did price comparision but often conveince outweighed saving a few dollars. Now, I will go out of way to save a few dollars. I am looking for best value at a price I can afford. I have cut out a lot of things that are not necessaties. As far as marketing tactics, show the consumer you have the best goods/services at a better value than the competior.

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