CONSTOMER RESEARCH HELPS IN APPLYING CRM FOR SURVIVING IN RECESSION

Market research is the foundation of any business activity whether starting up a new business or lifting it in bad economic conditions. Recession can be defined as significant decline in general economic activity extending over a period of time. Recession results in unemployment, revenues dropped and governments taking back subsidiaries. Further more it results in stock market crash, fore closure and bankruptcy. Currency crisis, inflation, war and speculations in financial context are the major causes of Recession. Signs that usually indicate the recession include the rate of joblessness, assumes disturbing proportions, large companies start giving depressing profit, borrowers start defaulting, credit card purchases shoot up, increase in prices of essential commodities, companies stop hiring, prices of property and Stocks decline significantly but still less purchases, country's GDP goes down, savings are used for day-to-day expenses and a general consumer start worrying about all of the above. When you start feeling the pinch and start worrying about your own future on the above points, then this will indicate that the recession has now reached