Economit Journal
Vol 5 No 2 (2025): Economit Journal: Scientific Journal of Accountancy, Management and Finance: (May

A Qualitative Analysis of the Influence of the 2020 Economic Recession on Marketing Decisions: A Cross-Organizational Study

Soji Alabi (Department of Mass Communication, University of Lagos, Nigeria)
Tayo Popoola (Department of Mass Communication, University of Lagos, Nigeria)
Moshood-Abiola Arogundade (Department of Mass Communication, University of Lagos, Nigeria)



Article Info

Publish Date
30 May 2025

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.

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Journal Info

Abbrev

economit

Publisher

Subject

Description

Economit Journal: Scientific Journal of Accountancy, Management and Finance is an international journal using a peer-reviewed process published in February, May, August and November by Britain International for Academic Research Publisher (BIAR-Publisher). Economit welcomes research papers in ...