Marc Goldstein, president and CEO of media agency conglomerate GroupM North America, told attendees at the annual Advertising Week Conference in New York City that he is confident many companies will not cut back on advertising in 2009, despite the troubled economic conditions, reports Mediaweek.
Goldstein said it's his impression that marketers may have finally taken heed to advice the media agencies have been doling out for many years -- in tough economic times, they should continue to spend dollars on advertising to maintain their market share."In the past, we have always recommended to our clients that in a down economy they maintain ad spending so that they would not lose market share and have to eventually spend more to re-establish their brands." he said. "In the past, clients didn't heed that, but over time, they've learned their lesson. That message to clients today resonates more. They really do recognize that if they cut back on marketing it will be harder to recover later."