Oct.29,1932 “Surveys tell us that consumers are more pessimistic TABLEOFCONTENTS today than at any time in the past 25 years…. What do marketers do? Do they moan about how miserable the surveys AUTOMOTIVE look, how tough the selling climate has become? Do they close down and go live in a commune until 1974 blows over? FINANCIAL SERVICES
“The proper marketing attitude for today embraces the concept that the time to do something is when others do nothing. Don’t look to a frightened competitor for guidance. TECHNOLOGY Follow your own instincts; drive home your marketing MEDIA advantages….
“Ignore those who have pulled back on advertising. Take AD AGENCIES advantage of them with credible ads that communicate reality, good sense, confidence…. Above all, level with your customers; don’t try to bluff them. Remain visible in hard times and your position will be much stronger in good times.”
—Ad Age editorial (“Push Against Pessimism”), Oct. 29, 1973 “We do have problems; but perhaps these problems will CHARTS seem less overwhelming later next month as the nation observes the 100th anniversary of the birth of Franklin D. GDP Roosevelt, a president who, among other things, is remembered for dealing with a deflated economy, 25% unemploy- UNEMPLOYMENT RATE ment and a banking system that was on the verge of col- lapse…. DOW JONES INDUSTRIAL AVERAGE
“If Roosevelt could tell the nation: `The only thing we have to fear is fear itself,’ what should we say to those who HOW RECESSIONS STACK UP panic because the Dow is down? Or because—for the AUTO/LIGHT-TRUCK SALES moment—we are not setting new retail sales records?
“We are in a period of vast structural change, as indus- GAS PRICES try adjusts to new technology and fierce new competition in world markets…. While 1981 was a year of unusual MILES PER GALLON BY YEAR uncertainty for advertising and media, it is particularly noteworthy that this was not translated into curtailed PRIME RATE advertising.…
“It is no longer common practice—as it was in HOUSING STARTS Roosevelt’s day—to respond to declining sales by retrenching on advertising and other promotional efforts. MORTGAGE RATES
Modern business managements know that advertising is the key to today’s sales and tomorrow’s hopes…. PERSONAL CONSUMPTION
“It is not going to be easy to do business, or stay in business, or grow. But this is a year when advertising peo- RADIO PENETRATION ple can be the heroes. There is plenty of economic strength out there to build on, and too much talent, TELEPHONE PENETRATION inventiveness and enthusiasm to be defeated. Optimism is among the distinctive contributions advertising people INFLATION RATE bring to the management team. If not miracles, at least wonders. In 1982, advertising people can provide the CONSUMER SENTIMENT spark.” TV PENETRATION
—Ad Age editorial (“1982—For Advertising People, the Opportunity to be Heroes”), Dec. 28, 1981
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