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When the going gets tough, the tough don't skimp on marketing

By Kevin OKeefe

That's the gist of an article last week in The Wharton School's online business journal, Knowledge@Wharton. With corporate managers under enormous pressure to control costs and maintain liquidity in the current credit crisis, advertising budgets often appear to be a dispensable luxury in the struggle to survive. Executives who succumb to that temptation, however, put the long-term future of their companies at risk, according to Wharton faculty and advertising experts. The danger in cutting back per Wharton marketing professor Peter Fader: ...[Companies] leave empty space in consumers' minds for aggressive marketers to make strong inroads. Today's economy provides an unusual opportunity to differentiate yourself and stand out from the crowd, but it takes a lot of courage and convincing to get senior management on board with that...continue to full post

Full post as published by Real Lawyers : Have Blogs on December 01, 2008 (boomark / email).