Are Agencies Reaping What We've Sown?
It is easy to easy to say "desperate times call for desperate measures" and then cut prices to the bone. That may even be the best option for a given company. It is wishful thinking, however, to pretend that price cuts do not erode the brand position or that it will be easy to raise prices after the economy improves.
The article does raise an interesting point about business decision-making and business education. The business cycle is a fact of life. Yet, most businesses react to recessions as though they are a complete surprise.
The time to prepare for a downturn is when times are good. Why do so few businesses do so?
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