"The man who stops advertising to save money
is like the man who stops the clock to save time".
-- Thomas Jefferson
I have recently come across an interesting story that I believe we can all learn from. The story happened during a period of severe economic uncertainty.
The Great Cereal War
At the beginning of what we now call the Great Depression, cereal brand giants Kellogg's and Post were in a virtual tie for market share. Post responded to the economic times with a strategy of reducing marketing along with other traditional budget cutting moves. Kellogg's maintained its marketing levels and even expanded it. Their goal was to find new areas to build their brand. This strategy paid off for Kellogg's. When consumers came back to the market place in full force so did Post but it was too late. Kellogg's had established themselves as the sole market leader and held that position for over 50 years.
I think it is very safe to summarize this story with one simple comment - Tom was Right!
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