There’s a nice little write up in the latest New Yorker that summarizes a perspective we’ve shared with  clients recently: A bad economy can be a great time for brands to snag market share.

Coming from a marketing firm, it sounds pretty self serving. But consider an economic downturn a “buyer’s market” when it comes to marketing. Media rates are softer, inventory is looser and value-adds abound. Combine that with a reduction in competing noise, and your marketing dollar just became much more potent. If nothing else, this economy is a good time to optimize your marketing spend, focusing on opportunities that give you the biggest bang for the buck.

Hanging Tough
by James Surowiecki
The New Yorker
April 20, 2009

In the late nineteen-twenties, two companies—Kellogg and Post—dominated the market for packaged cereal. It was still a relatively new market: ready-to-eat cereal had been around for decades, but Americans didn’t see it as a real alternative to oatmeal or cream of wheat until the twenties. (more…)