With the economic challenges brought on by COVID-19, many business leaders are asking themselves the poignant question: “How to market my business or organization in a downturn?”
Although strong brands can be carried for a period on the momentum of previous brand-building investments, no brand can afford to coast solely on earlier efforts. Brands that are out of sight on the television screen will sooner or later be out of mind for a large percentage of consumers.
– Harvard Business Review, “How to Market in a Downturn” by John Quelch and Katherine E. Jocz
Indeed, for the foreseeable future, meeting this question head-on will be crucial not only in order to remain competitive, but to remain viable. While this current crisis is unique in several ways, many great lessons can still be gleaned by looking at previous downturns.
As such, we’re digging through the archives and sharing with you a great article from the Harvard Business Review. This article, from the April 2009 issue, is a great deep-dive for anyone looking to the past to inform the present and future.
Read it here: https://hbr.org/2009/04/how-to-market-in-a-downturn-2