Recession and advertising
"In a study of U.S. recessions, McGraw-Hill Research analyzed 600 companies from 1980-1985. The results showed that business-to-business firms that maintained or increased their advertising expenditures during the 1981-1982 recession averaged significantly higher sales growth, both during the recession and for the following three years, than those that eliminated or decreased advertising. By 1985, sales of companies that were aggressive recession advertisers had risen 256% over those that didn't keep up their advertising."
I am sure many of you have your own opinion about why this is so. But I guess there is no secret in getting back to the basics of marketing. There are various types of advertising, all for different uses. An organisation might need to maintain its corporate image, it may need to keep its brand in front of buyers, it might need to introduce a service, there may be B2B requirements, or even a need for cooperative advertising.
But regardless, keeping a sensible and strategic approach to maintaining awareness is very very necessary right now.
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