The economy is on our minds and on the candidate's lips. Recession predictions are abundant and even GM and Chrysler have approached the government for a hand out. During slower times, the first impulse is to cut marketing budgets. In fact a recent Marketing Sherpa survey show that larger organizations have already begun are looking to cut expenditures.
In tough times, an organization that can be fluid and dynamic has the potential to build brand, trust, and ultimately take market share from competitors. As the chart shows, smaller organizations have been slower to make cuts and if funds are spent wisely, these organizations can position themselves against their larger competitors.
Areas that an organization can focus on are increasing service levels, shifting to direct or online marketing tactics, and programs that are brand building in nature.
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