Marketing During Recession: To Spend or Not to Spend?
Nigel Hollis
Everyone is talking about recession. The talk alone may be enough to trigger one, whether the underlying economics dictate it or not. From observations of recessions past, we know that consumers are quick to rein in spending when hard times are predicted. Many business leaders behave the same way. Anticipating reduced sales, they are inclined to cut back on variable costs, including marketing, in order to deliver on the expectations of the financial market.
However, a great deal of evidence suggests that it's not a good idea to reduce...