Ad budget key to managing downturnPosted on
Maintaining your advertising budget in a down economy can lead to increased market share.
A recent article in The New Yorker magazine looks at companies that have increased their advertising budgets during previous recessions and how doing so proved profitable.
For example, during the Great Depression, Kellogg doubled its ad budget and moved into radio advertising. By 1933, its profits had risen almost 30 percent, and it became what it remains today: the industry’s dominant player.