The impact of global economic trends on the management of marketing strategies in international corporations

Abstract

Economic trends have a significant impact on consumer behavior, and understanding these effects is important for businesses, marketers, and policy makers. Changes in the economy can be caused by various factors such as inflation, unemployment, interest rates and government policy. In this article, we will look at how these variables affect consumer decisions, preferences, and purchasing power. When the inflation rate rises, consumers' purchasing power decreases. As the prices of goods and services increase, consumers begin to reconsider their spending. They can reduce spending on non-essential goods such as entertainment and recreation, and focus on basic needs such as food, housing, and health. High inflation can also lead to increased demand for durable goods as consumers seek to protect their savings from depreciation. In return for short-term costs, people can buy goods that retain value or require rare replacement, such as household appliances or cars. Unemployment also plays an important role in shaping consumer behavior. In conditions of high unemployment, even those who remain employed may feel economic instability and uncertainty about the future. This leads to a decrease in consumer spending and an increase in savings. Consumers try to minimize debts and make purchases of only the most necessary goods and services. Unemployment affects the psychological state of consumers, forcing them to be more careful in their finances and look for cheaper alternatives, to distinguish what they want from what they need.