So just before the Great Depression that started in 1929 whole cereal, I think most of you guys probably haven't even heard of them was the market leader in breakfast cereals founded in 1895 closely followed by Kellogg's found it Later in 1906.
now nowadays you would think the CEO would perform well during or a session or a pandemic because you know people want a stock pilot it's a non-perishable and that is the case right now companies like Kellogg's are doing very well and they're flourishing but back in those times the US market was actually still like their little suspicious I guess you could say of dry packaging cereals and still stuck to oatmeal or cream of wheat is just different times to be.
to be very blunt so you know when the Great Depression struck post dramatically cut their marketing budget as well as other expenses now Kellogg's did not decide to follow suit okay instead what Kellogg's did was they actually doubled its advertising budget and released the rice krispies aggressive radio advertising along with a slogan then I'm pretty sure you should all be familiar with which is snap crackle and pop and even in 1933 when the economy was in dire dire Straits Kellogg's profits were up by 30% and you know they became the dominant player in the cereal market a place they still hold to this day.
another perfect example is GM General Motors and they are the conglomerate that actually owns Chevrolet and what they did in a tough economical landscape is they actually pushed manufacturing and they offered aggressive financing options and they massively increased marketing spend on Chevrolet positioning it as an affordable product.
it's crazy to think you know especially just such a Titan like Ford they actually increase their market share by fifteen percent during the Depression while Ford they actually dropped dramatically and even in the past 20 years these massive companies right here have all taken advantage of economic downturns to grow their market share you know one very unnoted one is Amazon if you guys know anything about the Amazon story I think 2008 truly was the biggest blessing in their company's entire history and once again all of these companies have you used economics downturns to think long term and instead grow their market share now.
I love this quote very much, it’s by iman gadzhi
When times are good you should advertise
When times are bad you must advertise.
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