Here's David Ogilvie, 25 years ago, whose agency Ogilvie and Mather weathered several recessions and not only survived, but flourished. Maybe I should offer WWDOD (What would David Ogilvie do?) bracelets. Let me know if you want one!
"Should you stop advertising in times of recession when you need every penny to sustain your earnings?
"If you stop advertising a brand which is still in its introductory phase, you will probably kill it -- for ever. Studies of the last six recessions have demonstrated that companies which do not cut back their ad budgets achieve greater increases in profit thatn companies which do cut back.
"In a Morril survey of 40,000 buyers involved in the purchase of 23 industrial products over five years, it was found that share-of-market went up in bad times -- when advertising was continued.
"(John Maynard) Keynes might have advised manufacturers not to advertise during boom times, but instead to set aside the money in a reserve for advertising during recessions."
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