Business cycle research in marketing: a review and research agenda

Abstract

Business cycles (BCs) may affect entire markets, and significantly alter many firms’ marketing activities and performance. Even though managers cannot prevent BCs from occurring, marketing research over the last 15 years has provided growing evidence that their impact on consumers, and hence on firm and brand performance, depends to a large extent on how firms adjust their marketing mix in response to these macro-economic swings. In this study, we review the growing marketing literature on how to attenuate or amplify the impact of BC fluctuations. Our discussion focuses on three key aspects: (1) the scope of, and insights from, existing BC research in marketing, (2) advancements in the methods to study various BC phenomena in marketing, and (3) some emerging trends that offer new challenges and opportunities for future BC research in marketing.