Big names prove worth in crisis
INTERNATIONAL MARKETING BIG NAMES PROVE WORTH IN CRISIS John Gapper APRIL 28 2010 For companies whose financial value depends heavily on the health of their brands, the severity and abruptness of the recession was a challenge. The abruptness with which many consumers stopped spending, and large companies reduced capital investment and wound down capital investment, caused a shock to the system. Many companies experienced not only the financial crisis, but also a crisis of confidence. Marketers and advertising agencies preach the gospel that the companies that emerge best out of recessions are those that maintain their marketing budget and protect brands when the going gets tough. In practice, few companies were certain enough of the future to comply. Yet some of the Doomsday scenarios about the value of brands in a new, less leveraged world, have not come to pass. Emerging from the recession, luxury goods companies and many other consumer brand companies ar