Hasan Comert in his study The Impacts of the Global Crisis on the Turkish Economy and Policy Responses (2014) conducts the evaluation of the global crisis of 2008 over the development of Turkish economy. With start of the crisis in the USA, the economy of Turkey became the subject of tremendous fall and recession. In terms of the influence of the crisis over the consumer behavior and attitudes, their expenditure has been decreased in significant volumes in the second half of 2008. First of all, the consumers in Turkey were not confident in the ability of the government to recover the economy of the country. That in fact led to the significant decrease of the consumer consumption within all the regions of the country. In addition, the crisis in Turkey was featured with the decrease in the investment spending jointly with the low level of the consumption. Meanwhile, the export-import relations of the country in terms of the trade relations with the partners have received new pattern background so that the flow of the particular products to the territory of Turkey was ceased. Due to this negative situation in the country, the leadership of the state had developed certain measures in order to tackle the consequences of the crisis. These measures addressed the fiscal policy, taxation regime and the credit rates. From this point of view, the author stipulates the elaboration of the amendments to the tax regulations and reductions which should have changes the percentages in the tax burden put on the consumers. Meanwhile, these fiscal measures should increase the investment flow to the country in addition to the facilitation of the consumer consumption. Despite the fact that the global economic crisis of 2008 became as the serious one in the historical background of the country, the country has developed the efficient measures in order to address the negative consequences of the crisis over the formation of the consumers’ behavior (Comert).
The work under the title International Marketing in Crises Situation in Turkey (2015) completed by Karaduman, dwells on the emotional responses of the consumers with regard to the crisis taking place in Turkey. Accordingly, there are some types of the responses taking place in the behavior of the consumers (Karaduman and Vohra). They are the following:
Continue same behavior applies to the category of the consumers that have the same income flow upon the start of the crisis so that they should not adjust to the changes in the economical pattern of the country;
Reduction of the expenses spending in order to survive is the kind of the behavior which means the decrease of the monthly payment on the needs of the consumers in order to maintain the living. In this respect, the majority of the consumers covered by this category face the necessity to the postpone the expensive purchases for the time when the economical situation of the country will be improved;
Attempt to stay safe in order to reduce the spending of the money applies to the rest of the consumers that believe in the future deepening of the crisis in the country so that that have to diminish the expenses.
At the same time, the author of the paper draws attention to the idea that some consumers responded to the financial crisis in the manner that allowed the to substitute particular expenses so that to combat the spread of the financial crisis within the country. This substitution conduct implies that the consumer should choose the product offered by different brands in order to reduce the expenses and stay safe in the financial meaning. Accordingly, some firms accepted these emotional responses committed on behalf of the consumers so that to attract more customers and form the loyalty to the brand. In this respect, some firms gained the opportunity to increase the total amount of the revenue and overcome the financial crisis. Additionally, some consumers were quite concerned about the future safe living so that some citizens referred to the calculation of the personal budget and examined the means that may increase it. With the spread of the financial crisis in the state, the consumer power has been subject of the changes so that the clients influenced the performance of the companies and the advertisement campaigns promoted the goods. In this respect, the companies had to promote the features of the goods for the consumers in order the clients could get the understanding of why the particular product should be bought.
Next research provided by Terzi, The Effect of Global Financial Crises on Real Sector in Turkey (2011), defines the impact of the crisis over the index of consumer behavior and consumption within several industries. From the economical point of view, the consumer confidence index in 2008 was declined to 70 point as the minimal level through the historical development of the country. This conduct was caused by the decrease in the business units' net sales and absence of certain goods within the market in Turkey. Furthermore, the consumer prices have been dropped so that the majority of the citizens were deprived of the opporunity to purchase the necessary goods (Terzi).
The work made by Ozer "Demand elasticities in Turkey" (2003), is not focused on the consideration of the influence of the global financial crisis of 2008 over the conduct of the consumers. Meanwhile, this paper addresses the changes in the actions of the consumers based on the fluctuations of the income. Through the paper, the author paid attention to the consideration of the curves and elasticities applicable to the determination of the demand of the consumers within the period of financial crisis. In fact, the elasticity that covers the commodities including such items as food, communication, housing was increased, while the elasticity responsible for the clothing, educational needs, recreation was decreased significantly in comparison to the first one. Accordingly, it should be said that the latest group of the goods and services was treated by the consumers as the luxury items that were not affordable in the same quantities existing before the crisis (Ozer).
The next work The Size of Informal Economy and Demand Elasticity Estimates Using Full Price Approach: A Case Study for Turkey was prepared by Armagan Aktuna-Gunes. This paper focuses on the calculation of the wage earners from the formal and informal resources. The author believes that this approach will allow to establish the rise or fall of the demand for the particular products depending on the overall volume of the salary. For the purposes of the paper, the author relied on the full price method that which examined the sources of the income flow within the measures of the country as well as from the supplementary sources out of the borders of the state. Accordingly, as the elements of the full price method, the author of the case study took the ratios in form of the consumers budget that were different based on the sphere of the activity of the consumer. Furthermore, the estimation of the groups of the goods took place based on the prices for the products available at the market so that to obtain the approximate data as to the results of the survey. The main outcome of the conducted research is based on the idea that the crisis of 2008 fostered the involvement of the consumers in the development of the informal economy by conduction the purchase-sale operations. In addition, the author evaluated the monetary expenditures and concluded that such goods as the clothing items preferable were not covered by the demand while the need of the consumers was based over the food consumption (Aktuna-Gunes).
The article Bilateral Trade Elasticities of Turkey performed by Idil Uz investigates the correlation of the elasticities developed from the contractual bilateral trade relations through the financial crisis. Within the paper, the author has provided the estimation of the several coefficients of the different models that were applied to the examination of the essence of the relations between Turkey and pivotal trade partners. From the perspective of the author, the main outcome of the paper lies in the fact that the US dollar plays the pivotal role in the determination of the prices of the products. This fact caused by the presence of the American currency in the majority of the transactions within the framework of the trade relations taking place between Turkey and other partners. Moreover, the author delivered the positions that the location has no influence over the fluctuation of the price elasticity defining the demand in terms of trade relations. In addition, the economy of the country was suffered from the influence of the euro in the further developer of the country during the crisis. Besides, the trade relations in the country are quite reluctant to the currency exchange of the national currency to the dollar. Accordingly, interconnection of the bilateral price elasticity with the foreign demand influences directly the behavior of the consumers in the country. Due to the invader of the gap between the national currency and US dollar, euro, the prices for the particular products have been increased respectively so that the consumers should have adjust the needs accordingly (Uz).
The next work The Importance Of Understanding Turkish Consumers' Behaviors To Determine The Most Convenient Adaptation Strategy For Global Companies Which Plan To Enter Into Turkish Market made by Kaplan has a great impact in the determination of the changes in the consumers' behaviour during the crisis. For the completion of this study, the author had the aim to establish the entire profile of Turkish consumers in order to attract the investors to the country. Meanwhile, the author attempted to consider the tastes and preferences of the consumer through the financial crisis and its dependence on the particular demand for the goods. Moreover, the author managed to provide the audience with the description of the most valuable habits of the Turkish consumers towards the purchase of the goods, receipt of the services, etc. Furthermore, the author draws attention that any person having the desire to determine the profile of the Turkish consumer should pay attention for the interpretation the essence of the new consumer profile. This type of the consumer implies that the person has the intent to obtain the overall amount of the qualities pertaining for the good as the minimal price. For example, the person would like to receive the adequate quality of the good, it's appropriate delivery within the reasonable period of time, provision of the sales and discounts, etc. Besides, the technological development provide the new consumer with the opprtunity to purchase any desirable product as well as to consider the doversified portfolio of the items available in the particular market. At the same time, the author states that the new consumer is not concerned about the purchase of the goods of an exclusive brand. The person has a huge variety of alternative options, while the preference towards particular brand is not a popular strategy among the new consumers. Meanwhile, these consumers believe that the buying of the original and authentical products provide them with the opportunity to be unique and stay aside from the rest of the consumers. In this respect, the author has managed to develop the profile of the Turkish consumer. He highlights that the consumers living in Turkey is quite concerned about the role of the politics in the primary life of the person, as well as the impact of the development of the economy plays the primary role in the formation of the consumer's behavior. At the same time, the citizens of the country depend on the spread of the advertisements promoting the particular products. Despite the fact that the people in Turkey have no preferences towards particular brands, the companies coming to the market in the country should develop the unique strategies allowing them to adjust to the expectations of the consumers. The consumers use widely the new media in their lives in order to stay tuned in the events taking place in the world and in the country. Following this, the companies coming to the state should insert the usage of the new media tools in its marketing strategy. Furthermore, the consumers in Turkey are able to use the products for the long period of time without struggling from the necessity to purchase the new item. Therefore, the start and spread of the financial crisis in the country did not undermine the ordinary conduct of the consumers, as they did not feel the urgency in purchase of the goods that are not referred to the food group. Additionally, the author came to the conclusion that the consumers in Turkey are quite diversified so that the country has the specific consumer profile. The main intent of the consumers in the country lies in the fact that the companies operating within the territory of the state should refer to the actions allowing them to draw the attention of the consumer and interpret his intentions. At the same time, the author highlightes that the consumer's behavior in Turkey is closely linked to the cultural background and the consumption structure of the market. The culture is the valuable factors in the formation of the purchasing habits of the consumers. Besides, even the entire amount of the consumers in Turkey should not be covered by one consumer potfolio while the state should seek for the measures that will allow to address the attention and tastes of the consumers (Kaplan).
Further item of the profound research on the consumer's tastes, An Analysis Of The Studies In Turkey Into Consumer Behavior During Periods Of Economic Crisis completed by Aksoy dwells on the factors influencing the position of the consumers with regard to the particular products. The author of the paper stipulates that the financial crisis of 2008 was as quite tough time for Turkey that led to the reorganization of the economical resources of the state and influenced the behavior of the consumers. This time exercised the impact in the manner that the consumers gained the experience as to what measures should be taken in order to address the spread of the financial crisis. The consumers obtained the knowledge as to the formation of the competitive advantage. The main change and fluctuation in the behavior of the consumers lies in the fact that the clients have to seek the cheap goods and service, while the expenditure for the food should be reduced as well. Moreover, the consumers have faced the necessity to take the hasty decisions during the completion of the purchase transactions (Aksoy).
Finally, the paper Contemporary Turkish Consumptionscape: Polarity And Plurality conducted by Ozlem Sandikci provides the consideration of the consumption scale in the country (Sandikci). In this work the author analyzes the factors influencing the formation of the consumption patterns of the consumers during the tough time in the country as the financial crisis taking place in Turkey. Due to the fact that the division of the welfare within the population of the country was not equal based on the economical development of the state, the relative amount of the citizens have the adequate stable and high income flow irrespectively of the spread of the financial crisis. Despite this fact, the author of the paper believes that the consumers of the country influence on the elaboration of the consumption scape portfolio of the country based on its plurality in the different consumption practices. Furthermore, the division of the society into the classes influences directly the formation of the consumer attitudes towards certain products available in the country. At the same time, the poorest categories of the population develop the demand based on the view of the categories of the people having the high income flow. Thus, the consumption scape in Turkey is featured with the huge level of plurality depending on the diversification of the society. Furthremore, the cultural diversity exercise the influence over the development of the consumption background of the country. The population cover the existence of the spectacularists, nationalists and several other categories of people that have different consumer preferences and tastes. According to this fact, the companies since 2008 should take this factor into account in order to elaborate the marketing strategies respectively so that the entire amount of the consumers could be increased.
Thus, it could be stated that the impact of the global financial crisis of 2008 was significant over the development of the tastes and preferences of the consumers, while the other factors have the stable meaning in the elaboration of the consumer behaviour and background.
Works Cited
Aksoy, Aybala Demirci. "An Analysis Of The Studies In Turkey Into Consumer Behavior During Periods Of Economic Crisis: Business IS&T Book Chapter | IGI Global". Igi-global.com. N.p., 2015. Web. 17 Feb. 2016.
Aktuna-Gunes, Armagan Tuna. "The Size Of Informal Economy And Demand Elasticity Estimates Using Full Price Approach: A Case Study For Turkey". Documents de travail du Centre d’Economie de la Sorbonne (2014): n. pag. Print.
Alien, Nazli. "Consumption Adjustments Of Turkish Consumers During The Global Financial Crisis". EGE Academic Review (2011): 193-203. Web.
Comert, H. "The Impacts Of The Global Crisis On The Turkish Economy And Policy Responses". ERC Working Papers in Economics (2014): n. pag. Print.
Karaduman, Ilkay, and Ovais Vohra. "International Marketing In Crises Situation In Turkey". WJBM 1.1 (2015): 1. Web.
Kartal, Emel. "The Importance Of Understanding Turkish Consumers' Behaviors To Determine The Most Convenient Adaptation Strategy For Global Companies Which Plan To Enter Into Turkish Market". (2013): n. pag. Print.
Ozer, Huseyin. "Demand Elasticities In Turkey". Journal of Economic Integration 18.4 (2003): 837-852. Web.
Sandikci, Ozlem. "Contemporary Turkish Consumptionscape: Polarity And Plurality". Print.
Terzi, N. "The Effect Of Global Financial Crises On Real Sector In Turkey". China-USA Business Review 10.3 (2011): 188-198. Print.
Uz, Idil. "Bilateral Trade Elasticities Of Turkey". International Journal of Applied Economics 7.1 (2010): 28-46. Print.
