Abstract:

The distinguished economist Brian Reading in this issue forecasts that we are very likely to see a 'W-shaped' recovery this time, with fiscal stimuli providing temporary relief before we see a second slump. It is also distinctly possible that even the faster-growing areas of the world, such as Asia Pacific and CEE, will not escape this recession, depriving the industry of at least one crutch as it seeks to cope. There is a real need for the industry to prove (very loudly) the incredible value of research in a recession. How else to understand the consumer in hard times? There is also the need to display the real evidence of how investment in both research and advertising during recession creates the seeds of greater success down the road. Two articles in this issue prove the point - one, which outlines the investment in research by The New York Times and the other by the MSI relating to advertising expenditure. We as researchers need very proactively to shout this message from the rooftops. Research directors need proof to convince management that research is not ‘discretionary spending' but a vital strategic tool with which to manage through recession and emerge stronger on the other side.