Top Travel and Lodging Agencies in Chicopee, MA 01013
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Custom Travel Concepts
By Charlotte Pitt September 27, 2006
I have been working with Custom Travel Concepts and its owner for more than 6 years and book all of my travel through them. The attention to detail and the personal service is what I look for and what I receive. I suggest anyone interested in working with a professional, knowledgeable person contact this agency. ...read more
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Marketing during an Economic Downturn – Does It Pay to Advertise?
Should business advertise or increase their advertising during an economic downturn? The answer is: absolutely. Historical data suggests that companies who advertise aggressively during a recession not only increase sales but profits as well. In a study conducted by McGraw Hill Research on advertising during the recession of 1980 to 1985 (600 companies included in the study), it was found that those who increased their advertising during the 1981 to 1982 period, realized an increase in sales and profits, (sales by 256% after that 5 year period). Those that did not advertise or cut back on advertising did not fare as well. In an article by Robert Wilson, (http://www.mddcpress.com/news/oct01/recession_advertising.htm)during the period of 2001, he offers arguments based on false assumptions that generate a downturn in advertising.“Perhaps the best reason to keep advertising during a recession is that it may actually provide an opportunity for companies to dominate their market. Many businesses make the mistake of assuming that because money is tight everywhere, customers will be spending less and therefore money spent on advertising will be wasted.Another false assumption is that it’s safe to reduce the advertising budget if the competition is reducing theirs. However, research has revealed that companies maintaining or increasing advertising during periods of economic slow-down will boost market share. Some companies will even see an increase in sales over their competitors who decrease advertising.Suffice it to say, that during the present economic downturn, those companies that continue or increase their advertising will, as history proves, not only survive their competition but increase profits and sales in the long run. ...read more
By AccessToMedia March 09, 2009