What many experts have known for months, if not the past year, is that our country is officially in a recession. In fact, the National Bureau of Economic Research announced in December that we have actually been in a recession since December 2007. Many business owners probably knew this long before the Bureau’s announcement, feeling the effects of customers’ budget cuts, a higher level of anxiety within the industry, and simply an overall gloom and doom mood, no thanks to the media’s contribution as well. But what exactly is a recession and how will it affect your overall business strategy, and more specifically, your marketing plans for the next six to 12 months?
The Bureau defines an economic recession as “a significant decline in the economic activity spread across the economy, lasting more than a few months, normally visible in real GDP [gross domestic product] growth, real personal income, employment … Read More