(from my article which appeared in the Moscow Times)

It is painfully obvious that during economic downturns spending patterns can shift dramatically. Consumers generally eat at restaurants less often, make fewer shopping trips, buy less expensive brands and defer big-ticket purchases.
Unfortunately, many businesses respond to this slump by slashing marketing budgets and discounting their prices -- which in turn produces less profit and forces further cuts in marketing spend. If this cycle isn't broken, the business may be left with a wounded brand when the market rebounds.
It doesn't have to be this way.
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