How inspiring...I recently read an article in the New Yorker discussing the risky move Kellogg made in response to the Great Depression. Instead of cutting their advertising and marketing spend as arch-rival Post did, Kellogg doubled their budget.
The strategy paid off. Soon the 'Snap, Crackle, and Pop' of Kellogg's Rice Krispies was heard on more and more American breakfast tables. In fact, Kellogg's business increased 30% during some of the darkest times this country has faced. And Post? To this day, Kellogg is still the leading company in the industry.
Let this be a lesson for any company to ponder when hard times hit and decisions have to be made.
To read full article, check out http://www.newyorker.com/talk/financial/2009/04/20/090420ta_talk_surowiecki?yrail