Contrary to perceptions, recession is an ideal time to invest in building and promoting a company’s brand. Building and managing a brand helps a company enhance its market visibility at a time when their competitors are busy cutting back on advertising and branding expenses. Studies show that brands which continue spending on promotional tools during a downturn can improve their market share and return on investments. Research shows that some of the world’s biggest and most successful brands have been built during tough times.

In a recession, consumers become more value-oriented and price sensitive. Thus, small businesses can position their brand strongly by focussing on customer requirements and offering high quality products and services that are consistently in conformity with their brand values. During difficult times, the key to success is understanding the customer’s needs and adapt strategies accordingly.

Building a credible brand and promoting it is a crucial step; but living up to the image of the brand and delivering to the set standards is imperative to strengthen one’s market position and brand equity. During a recession, an appropriate branding strategy and effective advertising campaign helps small businesses to bolster their market value and pave the way for success