Question

When economic times get tough, some businesses experience downturns that lead to the loss of jobs...

When economic times get tough, some businesses experience downturns that lead to the loss of jobs or going out of business. However, there are some businesses that survive and often thrive as a result of economic struggles.

Drawing on what you have learned so far, what type of products or business would survive in a recession? Please discuss individual behavior theory in support of your choice (Expertsmind).

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Answer #1

Businesses which are essential and used more frequently are more sustainable in recession specifically sectors like FMCG, Oil and Gas, Pharmaceutical, Consuner durables, Banking. Moreover businesses which are resillient and have customised product offerings to cater to customers demand and have shown greater adaptability and innovation and customer centric focus are more likely to grow.

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