ChasNote

From Knowledge@Wharton:

“With corporate managers under enormous pressure to control costs and maintain liquidity in the current credit crisis, advertising budgets often appear to be a dispensable luxury in the struggle to survive. Executives who succumb to that temptation, however, put the long-term future of their companies at risk, according to Wharton faculty and advertising experts.”

“Wharton marketing professor Peter Fader, [adds] that as companies slash advertising in a downturn, they leave empty space in consumers’ minds for aggressive marketers to make strong inroads. Today’s economy ‘provides an unusual opportunity to differentiate yourself and stand out from the crowd.’”