Unilever, Walmart, P&G Buck the Short-Term Trend†

As Recession Forces Cuts, Leaders Build for Future With Marketing, R&D

Advertising Age, June 29, 2009 — It's been said over and over: There's no time like recession, when competitors are retreating, to ramp up innovation and marketing to grab share.

So far, the competitors have done their part. U.S. trademark applications through mid-June were down 17% from a year ago; patent application growth stalled last year after more than a decade of high single-digit annual growth; and ad spending plunged 14% last quarter, according to TNS Media Research.

The intrepid share-grabbers have been harder to find. Now, however, as the dust settles from the fourth-quarter financial collapse, a growing number of them appear to be sticking their heads out of the bunkers to lay the groundwork for long-term growth in a short-term-obsessed world.