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Research Proposal Example

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The economic recession of 2008/2009 originated from the mortgage markets after financial institutions offered mortgages to those who had no ability to afford them. Therefore, there was a collapse of the property market, which quickly spread to other financial systems and…
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Research Proposal
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Download file to see previous pages... Thus, while consumers may have desired to buy new electronics, especially high-tech equipment, most could not do so because they had limited ways of generating capital that they could use to allow the purchases (Hartman, 2010: p38). This can be seen in the losses suffered by such electronics companies as Motorola Mobility and Blackberry, which emphasized the profound effects of economic recession. The research will seek to evaluate the effects of the recession on behaviour of the consumer in the UK electronics industry, particularly with regards to the smartphone industry. Understanding the response of consumers to the economic downturn with regards to their buying behaviour is imperative for companies seeking to ensure future success (Chakrabarti, 2011: p56). While signs show that the UK economy is stabilizing, leading to questions about this research’s relevance, the changes to consumer behaviour by recessions tend to last for a long time. Therefore, even as economists signal the end of the recession and beginning of recovery, this is unlikely to be reflected immediately by consumers in their buying behaviour.
The UK economy’s current state has heavily burdened many companies across the country. The declining spending and tendency to save among consumers led to profit losses for many organizations, which have been predicted by experts to have long lasting effects (Ver Eecke, 2013: p82). Today, consumers are more aware of the pitfalls bedevilling spending above one’s means with improved financial education. This trend will portend challenges for marketers because the consumers now tend to do need evaluation, while also showing more selective behaviour in buying decisions. Thus, companies will be required to conduct a re-evaluation of marketing strategies with the aim of identifying effective was of product marketing, focusing on delivering value and meeting needs of the consumer (Chaston, 2009: p40).
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