A funny thing happens when the economy quivers, consumer spending falls and uncertainty looms — otherwise-healthy businesses develop tunnel vision, cut marketing budgets, and do nothing to communicate why their brand matters at a time when the marketplace is looking for certainty and safety.
For companies with courage and capability, these can be times of unrivalled market opportunity. History has shown leaders can turn economic downturns and crises into leadership moments that catapult a brand ahead of its competition. For example, for financial services companies, given the worldwide recognition of Canadian excellence in the sector during the downturn, this is the ideal time to actively play the "Canada card" in brand building efforts.
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