MANAGING ADVERTISING BUSINESS DURING ECONOMIC RECESSION: A SURVEY OF SELECTED ADVERTISING AGENCIES I
Authors:
AJILORE Kolade
Publication Type: Journal article
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0
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Abstract
The economic meltdown that resurged in the United States at the twilight of the first decade of the twenty-first century provoked a global whirlwind that dislocated many Western economies and plunged others into a state of flux. The after-shocks, echoed in developing economies like Nigeria, precipitated instability in the stock –exchange markets. To ascertain the possible ‘domino effect’ of this recession on the advertising industry, in order to examine the postulate that advertising was always the first casualty of any economic slowdown, these researchers designed a qualitative in-depth interview study that gathered and analysed nonnumeric data harvested from sixteen advertising practitioners drawn from four randomly selected advertising agencies. Findings showed that recession has affected how advertising is practised and forced practitioners in advertising agencies to adopt belt-tightening but creative and ethical measures to weather the storm.