In a famous study of U.S. recessions, McGraw-Hill Research analyzed 600 companies from 1980-1985. The results showed that firms that maintained or increased their advertising expenditures during the 1981-1982 recession averaged significantly higher sales growth, both during the recession and for the following three years than those that eliminated or decreased advertising.
By 1985, sales of companies that were aggressive recession advertisers had risen 256% over those that didn't keep up their advertising.
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