Social and psychological determinants of consumption: Evidence for the lipstick effect during the Great Recession

MacDonald, Daniel; Dildar, Yasemin

doi:10.1016/j.socec.2020.101527

Cited by 16 publications

(8 citation statements)

References 14 publications

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“…Because of all these, during a recession, companies experience a reduction in product/service demands, sales and profitability (Bamiatzi et al , 2014; Hampson and McGoldrick, 2013; Jun et al , 2018). Hence, companies need to respond to all these changes by changing their marketing strategies in general and their marketing mix elements, in particular, to respond to customers new preferences, increase the demand, encourage customers to spend and retain their market share (Brooksbank et al , 2015; MacDonald and Dildar, 2020; Notta and Vlachvei, 2015). Thus, companies may think of offering more competitive prices, offering better services, or increasing their promotion budget (Ang, 2001).…”

Section: Resultsmentioning

confidence: 99%

Marketing mix strategies during and after COVID-19 pandemic and recession: a systematic review

Nikbin

Iranmanesh

Ghobakhloo

et al. 2021

APJBA

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PurposeThis study aims to answer two important questions: (1) Whether companies should reduce or increase the marketing expenses to face the recession caused by COVID-19? and (2) What marketing mix strategies should companies undertake to shine in the post-pandemic world?Design/methodology/approachAs recession caused by the COVID-19 crisis is one of the main drivers of business environment and customer behaviour changes, the authors systematically reviewed articles on marketing mix strategies during recessions. Out of 1,128 documents extracted from the Scopus database, 41 English-written articles were selected and analysed.FindingsThis study illustrates: (1) marketing budgets should not be cut during COVID-19 and (2) the marketing mix practices and strategies that firms should undertake during COVID-19 pandemic in terms of product, price, promotion, and place were explained.Originality/valueThe findings of this study advance the understanding of marketing strategies and practices that should be adopted and put into practice to deal with the impacts of COVID-19 on the business environment and shine in the post-COVID-19 world.

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Section: Resultsmentioning

confidence: 99%

Marketing mix strategies during and after COVID-19 pandemic and recession: a systematic review

Nikbin

Iranmanesh

Ghobakhloo

et al. 2021

APJBA

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“…The company has experienced a decline in demand for its products, resulting in lower sales and profits (Jun et al, 2018). Marketing strategies and marketing mix to meet new customer needs and motivate them to increase their spending and maintain the company's market share (MacDonald & Dildar, 2020), for example, competitive pricing, better service, or increasing sales promotion. Increasing marketing expenditures during a recession, such as investing in R&D, creates opportunities for companies to increase sales and increase market share.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of Covid-19 Pandemic Upon Jewelry and Gems Business: Marketing Mixed Perspective

Chemsripong

2022

12th International Scientific Conference “Business and Management 2022”

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The objective of this study was to determine the impact of the COVID-19 pandemic by examining the mar-keting mix strategy for Thai gem and jewelry businesses to find ways for business by exploring the marketing mix com-position of 369 jewelry and gems businesses in Thailand. Marketing mix difference was tested by using Paired Samples t-test during pre-and post-COVID and tested the hypothesis using multiple regression analysis. Results found that COVID-19 epidemic has affected almost every marketing mix component (price, distribution, sales promotion, and product) with a statistically significant difference between pairs. Therefore, business units must emphasize and adjust their marketing mix in order to cope with new opportunities, such as creating a new platform for online sales, focusing on speed adaptation, and bringing more innovation to business in order to take advantage of this crisis.

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“…In the statements in the interview, there are 5 questions on the lipstick effect and 5 probe questions, besides 5 questions on firm/corporate strategies and 6 probe questions. The set of interview questions was developed by utilizing the conceptual frameworks in "Social and psychological determinants of consumption: Evidence for the lipstick effect during the Great Recession" by Macdonald and Dildar (2020) and "Boosting beauty in an economic decline: mating, spending, and the lipstick effect" by Hill et al (2012). In addition, the questions were fine-tuned by taking the opinions of 4 experts working as managers in the service and cosmetics sectors.…”

Section: Research Scalementioning

confidence: 99%

Ruj Etki̇si̇ni̇n, İşletmeleri̇n Sürdürülebi̇li̇r Yöneti̇m Süreçleri̇ İle İli̇şki̇si̇: Kozmeti̇k Sektörü Yöneti̇ci̇leri̇ Üzeri̇nde Ni̇tel Araştirma

Çelikkol

Uludağ

2022

DOUJ

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Ekonomik durgunluk dönemleri, Dünya’nın her yerindeki işletmeleri, tedirgin etmektedir. Hiçbir sektör ve iş kolu ayırmaksızın, ekonomik durgunluk, ekonomik kriz gibi durumlar karşısında işletmeler hazırlıklı olmak adına stratejiler geliştirmektedir. Bu bağlamda bazı sektörde yer alan işletmelerin (kozmetik, güzellik merkezleri, kişisel bakım ürünleri/hizmetleri) diğerlerine göre daha şanslı oldukları görülmektedir. Şanslı olarak ifade edilen sektörlerde ‘‘Ruj Etkisi’’ kavramının önemi olduğu görülmektedir. Öncelikle pazarlamacılar açısından ruj etkisinin ifade ettiği avantajları anlamak ve yönetimsel açıdan geliştirilecek stratejileri belirlemekte faydalanmak gerekmektedir. Bu çalışmanın amacı; ruj etkisinin, işletmelerin kriz ya da durgunluk dönemlerindeki stratejilerini geliştirirken, sağladığı avantajı ortaya koymaktır. Yapılan çalışmada, ruj etkisi ve ekonomik durgunluk ilişkisini ortaya koyabilmek adına, kozmetik sektöründe yer alan 7 yönetici ile sıkı yapılandırılmış mülakat çalışması yapılmış olup, ruj etkisinin işletmelerin zorlu dönemlerinde (ekonomik kriz, resesyon vb.) hafifletici etkisi olduğu sonucuna ulaşılmaktadır.

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Social and psychological determinants of consumption: Evidence for the lipstick effect during the Great Recession

Cited by 16 publications

References 14 publications

Marketing mix strategies during and after COVID-19 pandemic and recession: a systematic review

Marketing mix strategies during and after COVID-19 pandemic and recession: a systematic review

Impact of Covid-19 Pandemic Upon Jewelry and Gems Business: Marketing Mixed Perspective

Ruj Etki̇si̇ni̇n, İşletmeleri̇n Sürdürülebi̇li̇r Yöneti̇m Süreçleri̇ İle İli̇şki̇si̇: Kozmeti̇k Sektörü Yöneti̇ci̇leri̇ Üzeri̇nde Ni̇tel Araştirma

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