What should someone in marketing do when there’s a recession on? ‘The obvious response would perhaps be to trim costs and thus also cut the marketing budget’, says FEB professor Tammo Bijmolt. ‘However, academic research has shown that this is not the best approach. Quite the contrary, as marketing turns out to be more effective during a recession. ’What also is important is what the message looks like: ‘33% off, 3-for-the-price-of-2, reduced from 3 to 2 euros – these may all be the same in an economic sense, yet to consumers they seem quite different.’
► Read the whole blog by Tammo Bijmolt (in Dutch) on FEBlog
