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How to market during a recession.(Marketing News)(Harvard University. Graduate School of Business Administration)(Brief article)
- Article from:
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ABA Bank Marketing
- Article date:
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June 1, 2008
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Copyright informationCOPYRIGHT 2008 Bank Marketing Assn. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Times are tough, right? So don't be surprised if next year's marketing budget gets cut. If you're not happy with that possibility, there are a couple of arguments that you can use with your CEO to encourage greater marketing spending during recessionary times.
A recession is not a good excuse to cut advertising spending, says John A. Quelch, a professor at the Harvard Business School. "It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return-on-investment at lower cost than during good economic times," he writes in a recent issue of "Working Knowledge," an e-mail newsletter ...