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"Responsibility is the ability to respond to any situation."
Adrienne Papp |
While teaching at Oxford, I learned a few rock solid ideas about getting one’s message out in the world in the most profitable way possible. The terminology for such activity is: Publicity.
According to recent studies at Wharton’s, published in Forbes Magazine, cutting advertising expenses as a short-term relief from current fears creates long-term trouble.
Those companies who shy away from putting themselves out there leave an empty space in consumer’s minds for aggressive marketers to take their place with strong impressions and profit by it later.
Today's economy "provides an unusual opportunity to differentiate yourself and stand out from the crowd,"
says Fader, an advertising expert at Wharton faculty. "If your company has something to say, it's going to be more efficient to say it now than to say it in better or later times," says Wharton marketing professor Leonard Lodish.
Research shows that companies that consistently advertise even during recessions perform better in the long run. A McGraw-Hill Research study looking at 600 companies from 1980 to 1985 found that those businesses that chose to maintain or raise their level of advertising expenditures during the 1981 and 1982 recession had significantly higher sales during and after the economy recovered. Specifically,
companies that advertised aggressively during the recession had sales 256% higher than those that did not continue to advertise.
Editor in Chief, Publisher/CEO
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