On Feb. 6, Jake Swearingen wrote an article for BNET that was excellent. He made the case for increased marketing expenditures during market downturns and backed it up with research data from Penn State.
The study titled, Turning Adversity Into Advantage: Does Proactive Marketing During a Recession Pay Off?, finds that “firms entering a recession with a pre-established strategic emphasis on marketing; an entrepreneurial culture; and a sufficient reserve of under-utilized workers, cash, and spare production capacity are best positioned to approach recessions as opportunities to strengthen their competitive advantage.”
As so many people are crying that “the sky is falling” it’s refreshing to see people talking about some of the opportunities that can come out of a recession. The companies with weak leadership and bad fundamentals are the ones that need to worry. If that’s you, then bunker down because the storm is coming. However, some of you need to be confident in your strengths, step-up, and expand marketing efforts. Who knows, these could be your strongest quarters.
