This reflection from the book Accelerating Out of the Great Recession by David Rhodes and Daniel Stelter may seem like obvious common sense to some but I find it to be profoundly important. They claim:
Recessions - and the ensuing period of low growth - affect all companies. But it falls to a company's leaders to define not only how well the company gets through a difficult environment but also how its competitive position can be improved for the future.
I think that this is especially enlightening because, coming out of this recession, many companies are very cautious about marketing and promoting their products and company. They are careful because of the cost of marketing.
Now is the period of time that will define their futures. Now is always the time that defines a company's future. The current low-growth economy is the new now and dealing with is will determine what tomorrow's now will look like.
I continue to believe that a solid marketing program that continues right through the most difficult times always pays dividends. More importantly, it will determine where a company is positioned as the recovery unfolds.
The advertising game is changing but the need to take part in it remains necessary.