Apr

14

Global Advertising firm Grey Group-Asia Pacific CEO and chairman Nirvik Singh shares his business insights on whether large and medium enterprises should cut back on advertising to save costs in the face of the global financial recession.

 

 

Reduce Advertising?

On whether businesses should reduce advertising, Business Today’s Rising Star in India Singh says:

I think there’s enough empirical evidence to suggest that companies that continue to advertise during an economic recession will come out stronger when the economy finally turns around.

The Future of Advertising and Business

On the challenges of advertising, Singh shares:

The digital space is changing our business completely. Even children nowadays don’t watch TV that much anymore, but they’re on the Internet. Consumers today are creating so much content online… we really want to be in the digital space in the future. [...]

I do not believe the Internet will totally replace newspapers and TV, but today the Internet is viewed as an alternative medium, and it may soon be part of our main media. This trend is changing our business and the world.

Last few words of business wisdom

For business executives and entrepreneurs, Singh gives this counsel:

I think the first thing people need to do is to face facts brutally. I think people are often in denial. People often want to see what they want to see. Act quickly, execute perfectly whatever it is you need to do. I think you need to be flexible, and this is the most important time to retain your key talents.

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Reference:

Flores, Wilson Lee. “Advertise for success even in a recession.” 13 April 2009. The Philipine Star. Accessed 14 April 2009. Link here


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