MARKETING REPORT

Marketing Report

Marketing Report

Question 1: Current Economic Crises

The report intends to achieve a solution to how Bank of England (especially the MPC) does respond to the high rates of inflation beyond the inflation target at the beginning of the great recession. The world is facing crisis - there is global warming and there is also an economic crisis. People tend to worry the possible recession effect, how to survive a depression, or what is life during the great depression.

What Is Recession

UK inflation has risen unexpectedly since at least 1997 in May, and Bank of England Governor Mervyn King predicted it will exceed 4% later this year, adding to speculation that the economy will fall into a recession. In England the Consumers price index has increased from 2.1% in December 2007 to 4.7% in August 2008 far away from targeted inflation of 2 percent (Mulhearn et al 2001 45-214). Economists tell UK that a recession is a general slowdown in economic activity over a sustained period of time or a business cycle contraction. Moreover, it is during this time that many macroeconomic indicators vary in similar way. Looking at the bad side of recession effect include slowdown of Gross Domestic Product (GDP), employment, investment, household income, business profits, investments and many more (Goerne 2001 347-648). Some businessmen claim that there is a recession every five years.

Each recession may have its own specific causes. As stated earlier, recession is part of a business cycle. With the previous recessions, here are the identified causes: decline in GDP growth, falling housing prices and sales, and a drop-off in business investment. The result of this slowdown is being the falling employment and the increase of unemployment. Is there what we call as recession proof businesses? Yes there are recession proof businesses (Bonoma 2001 479-517).

Looking at each individual person, many experience crisis because they do not have the knowledge of financial management. Or if they have, they just do not apply it. Recession is a reality this time, so have a crisis management plan. More importantly, you have to work out your plan. Why don't you start one of those recession proof businesses? Look for ideas on how to be a webpreneur in the internet. Being one entails big amount of money. What you need is only a computer with an internet connection plus your effort.

Tutoring is also available online or offline. To survive during this recession time, the key is your creativity, time management and industriousness or diligence. If you have a skill which you really are good at, you can use that skill by offering tutorial services. In that way, you will be enhancing your skill and at the same time you are helping another person to learn.

In 2008-2008 nearly the entire industrialized world entered into a deep recession. This also was the reason why the collapse of the United States housing bubbles, which sparked interrelated and ongoing financial crises. Threw the world top investment companies and well known baks have suffered ...