Market ups and downs: how marketing can lead your firm into survival

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Berendsen should hire as much staff as necessary to accommodate the needs of customers, this would be a wise move because during boom many countries spending power is high, because of the results of this more people tend to spend their money on luxuries.

Boom

The firm should also find ways to raise the awareness of the firm for the purpose of attracting more customers and also creating a larger range of customer loyalty, such as creating a website and promoting it through a website creation service. The firm has many branches in different countries so they can always find ways to improve their marketing techniques.

Slow down

The firm should consider slightly decreasing their prices to make the customers feel like the firm is offering a bargain e.g. two office suits for the price of one. By doing this the firm will receive an increase in demand for their goods, in addition to this the firm will also gain a large profit then what they would have if their prices were unchanged.

Recession

The should consider making some staff redundant due to the fact that the demand for their products would massively decrease because of the lack of spending power. Also there would be an increase in prices of raw material so the firm would have to raise the prices of their goods. However due to the harsh state in the economy, lowering their prices will chase off customers and force many customers into finding cheaper alternatives. The firm should also look for cheap alternatives for their raw materials so that their prices can remain consistent and stable.

Recovery

Berendsen Plc should post more job opportunities to attract individuals who are more highly experienced so that the firm make keep or create a better reputation on the quality of customer service they provide. The firm should also again find cheaper alternatives for their raw materials as individuals still seek discounts and bargains during this time in the economy.                          

Conclusion

In conclusion the four stages of the economic environment can make many businesses go into liquidation however Berendsen has learned how to adapt by changing their price and purchasing raw materials from foreign suppliers. The company are on a fixed contract to their suppliers which means that their income is consistent. Also these economics factors do not damage the company enough for them to lose their business. The four stages of the economic environment can make many businesses go into liquidation however Berendsen has learned how to adapt by changing their price and purchasing raw materials from foreign suppliers. The company are on a fixed contract to their suppliers which means that their income is consistent. Also these economics factors do not damage the company enough for them to lose their business. The four stages of the economic environment can make many businesses go into liquidation however Berendsen has learned how to adapt by changing their price and purchasing raw materials from foreign suppliers. The company are on a fixed contract to their suppliers which means that their income is consistent. Also these economics factors do not damage the company enough for them to lose their business.

This also reflects on how many other companies deal with the changes in the economy, the companies that learn to adapt survive through the harsh times while the ones that don’t go into administration. This is terrible for the economy because this results in a large amount of individuals becoming redundant and losing their jobs. It then increases the unemployment rate which is a factor that determines the state of the economy.