Advertising in Recession — Long, Short, or Dark?
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Keep Calm and Carry On
This article is written by Peter Field.
Even as we wait to discover just how great the impact of the COVID-19 virus pandemic is going to be on economic activity, it now looks almost certain that there will be a recession. Though governments will move heaven and earth to ensure that it is as short and as shallow as possible, the temptation for many in the business world will be to cut marketing and advertising costs to the minimum, especially if this is their first recession. The same uncertainty about what to do was evident in 2008, at the start of the Global Financial Crisis, when no one was sure how bad things would get and the natural temptation was to assume the worst. But is that the best approach? And can we learn anything from previous downturns that will help us weather this one and emerge stronger?
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