How should Korean companies prepare for a downturn within a globalized society? This post is worth a read from Harvard Business Online.
When things go bad, investment, not cutbacks, is what makes a difference in the long term. This is especially true when it comes to marketing and communications, and it’s one of the reasons Samsung emerged from the Asian financial crisis with such a high brand equity – investing in marketing in a downturn (this is something Martin Roll has discussed in the past and touched on here before).
Communications can sometimes be a paradox – speak more when more people are less vocal and you’ll be heard more. This is a valuable reminder to Korean marketing professionals planning budgets for 2008 in the context of an uncertain future…!