How to get ahead in a recession
Moray MacLennan, IPA President, Chairman M&C Saatchi Europe
A rising tide floats all boats and that’s also true of businesses and brands in a buoyant economy. But it is not the case when the going gets tough and the economy grows slower than inflation. When market sentiment and the consumer psyche get spooked by events such as the sub-prime mortgage crisis in the US or the collapse of confidence in Northern Rock, the UK bank and mortgage lender, it is easy for marketing money to tighten up quickly. However, recessions can also favour the well-informed marketer for several reasons.
1. Prepare early