During a recession, consumers reduce purchases. Identify five goods or services that you believe would decline...
During a recession, consumers reduce purchases. Identify five goods or services that you believe would decline in sales. What B2B markets would be adversely affected by the declines in consumer purchases?
Homework Answers
Recession is stage of decline in business activity. Therefore consumers avoid purchasing. Let us study 5 goods that would decline in sales.
- Old incandescent bulb
- Black and white keypad mobiles
- Old android softwares
- Old TV ( doom TV's)
- Cigarette
- Beers, Rum, scotch and other hot drinks
All these products would decline in sales due to invention of new technology. There are very few people to buy these products in the world due to advancement of new technology.
Due to decline in consumer purchase, company may incur loss in business. Along with company will lose the customers, stakeholders, shareholders, brand image.
And it will difficult for marketers to get those customers, shareholders etc again.
Main B2B market affect due to decline in such business are. Fashion business, Electronic and communication business, beverages etc.
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