(Photo by Matthew Horwood/Getty Images)In August Forbes and the Wharton School of Business surveyed senior marketing leaders about their experiences during the Covid-19 pandemic. A few key findings:66% of businesses cut spending on marketing and innovation early on in the pandemic. But history shows no evidence that cutting spending in a recession improved profits, growth or share in the short or long term. Although the current recession has parallels with recessions of the past, one key difference is the rapid acceleration of digital transformation. Read the “Markets in Motion” research study, by Forbes and Wharton, to hear analysis directly from its authors.

Source: Forbes December 21, 2020 21:22 UTC