I would like to borrow some more words of wisdom from the book Accelerating Out of the Great Recession. "Advertising and marketing budgets, classified as discretionary spending, are usually the first to get the ax during any recession - because, even more than R&D, their immediate contribution to the top line is hard to acertain." As the authors David Rhodes and Daniel Stelter point out, this happened in the Great Depression and it is happening again today.
It was a bad idea then as the authors go on to point out, and it is a bad idea today. Now is a unique time to gain market share. Now is a unique time to instill confidence in your customers. This can be accomplished through maintaining and, in fact, increasing your marketing and advertising programs.
As long as a free enterprise system exists, marketing will play a large role in successful business. I am counting on free enterprise continuing in the USA!
