Published

How Much Should You Spend on Marketing During a Recession?

It pays to maintain — and in some cases increase — marketing expenditures during an economic downturn. As Peter Fader of the Wharton School said, “As companies slash advertising in a downturn, they leave empty space in consumers’ minds for aggressive marketers to make strong inroads.”

Share

stock photo
It pays to maintain — and in some cases increase — marketing expenditures during an economic downturn. As Peter Fader of the Wharton School said, “As companies slash advertising in a downturn, they leave empty space in consumers’ minds for aggressive marketers to make strong inroads.” While marketing may seem trivial at times like these, as the research shows, and as Mark Ritson in MarketingWeek put it, “There are few things more proven in the world of marketing than the power of advertising in a recession.” What does the actual research say about marketing during a recession? Read more

RELATED CONTENT

  • Finding Opportunities in the Chaos

    2020 has been a disruptive year, but one that will likely contribute to greater 3D printing adoption and more sustainable manufacturing. Stephanie Hendrixson, Senior Editor for Additive Manufacturing and Co-Host of The Cool Parts Show, writes about accelerating trends in AM and staying flexible in the face of a pandemic.

  • Understanding Brand Affinity

    An approach that seems to help understand customer behavior regarding brand loyalty and insistence is the work done by experts who look at customer brand involvement as a combination of involvement and emotional content. An understanding of customer behavior finds that insistence for brands will vary based on either the brand's personality or the brand's reflection of the buyer's personality. There is an important distinction between identification with a brand and a belief that the brand identifies with you.

  • In B2B Market Research, It’s About Quality, Not Quantity

    Online market research tools offer a cost-effective way to gain insight into smaller B2B customer bases. In Part 1 of this 3-part blog, we covered the strategic underpinnings of market research for SMBs; the what and why. In part #2, we get down to the hows. Specifically, online survey best practices. Simple, well-defined questions can be deployed on a DIY basis. If more complex, a hybrid of DIY and professional assistance might be in order.

Gardner Business Media - Strategic Business Solutions