Don’t take you foot off the pedal – crisis is opportunity!
Don’t cut your ad budget. You are building your brand while the other guy disappears from the consumer’s radar screen.
Here’s an excerpt from a WSJ interview with Nancy F. Koehn, a business historian, author and professor of business administration at Harvard Business School http://online.wsj.com/article/SB124024841790635643.html :
It is in the early 1930s [during the Depression] that Procter & Gamble Co. says, “We are going to market the hell out of our products, and we’re going to do it on radio,” which was like the Internet of the time, “and we’re going to sponsor these little dramas.” That’s how they came to be called soap operas. So [one lesson in downturns] is market, market. Don’t cut back on marketing.
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Categories: Branding
