“…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).…”