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Tayo Popoola
Department of Mass Communication, University of Lagos, Nigeria

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A Qualitative Analysis of the Influence of the 2020 Economic Recession on Marketing Decisions: A Cross-Organizational Study Soji Alabi; Tayo Popoola; Moshood-Abiola Arogundade
Economit Journal: Scientific Journal of Accountancy, Management and Finance Vol 5 No 2 (2025): Economit Journal: Scientific Journal of Accountancy, Management and Finance: (May
Publisher : Britain International for Academic Research (BIAR-Publisher)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/economit.v5i2.1344

Abstract

The study examined the impact of the 2020 economic recession on the marketing strategies of several firms in Nigeria. A qualitative research approach was employed, and data was collected from twenty (20) individuals across four sectors: telecommunications, real estate, media and entertainment, and banking. Data was collected utilising a semi-structured interview framework. A majority of the responders, 13 (65%), were females, with a mean age of roughly 33 years. Findings indicated that businesses had justifications for making a variety of marketing decisions. In addition to a substantial decrease in budgetary allocation, organisations implemented modifications in transitioning to digital advertising platforms, enhancing digital business operations, aligning organisational processes with technology, and embracing a customer-centric advertising approach. The findings suggest that while digital advertising offers cost efficiencies, companies should anticipate rising platform costs and algorithm changes by diversifying their marketing strategy.
Co-Authors Moshood-Abiola Arogundade Soji Alabi