What will be the best business strategy at the time of economic recession?

Try to benefit from the difficulties brought on by the recession, and focus on creative opportunities such as investing in your businesses future by researching new technologies that would render more efficiency when the economy gets better. Use the downtime to get organized and avoid cutting costs in R&D.  Investigate new markets, new product expansion, and enjoy the gift of time that the recession offers for these added endeavors.

At time of the recession business are given the limited resources of budgets,cash ,employees time and it cant afford to have further ventures initiated so its better to invest on its current profitable portfolio of product/market products and build upon them.And divest any loss making department

It depends on whether you talking about online or offline marketing. It will also depend on the type of product or services you are offering. Your target audiences and competitor analysis should be able to help with the formulation of an individual strategy relevant as mentioned above. There is nothing as an inclusive strategy except if you want to fail.

The best business strategy at the time of offer is provide product or services at less cost and create the need of your item. I believe recession is the best opportunity for every business to grow in future