Marketing in a downturn: lessons from the past
Peter Field Marketing consultant
In an article produced by the Financial Timesin June 2008, both Procter & Gamble and Unilever revealed their intentions to maintain marketing spend into the downturn. AndSo it appears that the major players are the wise ones – they have learned to take advantage of downturns to grow. Perhaps they are encouraged by the investment community, which has also clearly learned the lessons of previous downturns: on the day analysts questioned Unilever's commitment to maintaining marketing expenditure, the company's share price fell 8%, despite better than expected short term results. Budget-cutters take note.