Monday, June 21, 2010

Who Survived the Last Depression?

Unfortunately, there are many similarities with today's economic collapse and that of the Great Depression in the 1930's through the 1940's.
The Great Depression had a worldwide impact . Unemployment in the United States rose to 25% and so many people suffered greatly. Before we all start drowning in our cereal bowl, let me give you the bottom line.  The Great Depression brought the most millionaires then any other time period! Businesses did survive and we can too! But what do I know?  I am a low paid worker, mother, daughter and wife.  My husband had a successful at home business with repairing consumer electronics and due to the phone industry giving the latest and greatest phones away for free; his company suffered.  He is an educated, talented man frustrated with the endless cycle of applying, sending resumes, follow-up calls and dead ends.  Either the companies decide to eliminate the position, say he is over qualified or decide they could pay someone else less money to do the same position.  I'm in the same boat as you all!  What businesses survived and thrived during the Great Depression.  Who were they and how did they do it?
The Successful companies during the Great Depression advertised!  The following companies went against the norm and chose to not cut their advertising funds.

"Proctor and Gamble -   P&G has made progress in every one of the major recessions 
and that is no accident.  When their competitors were bootstrapping and cutting their 
expenditures, P&G actually increased their spending. Radio took P&G's
message into more homes than ever.

Chevrolet - During the 1920s, Fords were outselling Chevrolets by 10
to 1. Chevrolet continued to expand its advertising budget  during their Depression 
and by 1931, the "Chevy 6" took the lead in its field and remained there for the next five years.

Camel Cigarettes - was the top selling cigarette in 1920 but was soon overtaken
by Lucky Strike brand in 1929. Two years later in the heart of the Depression, Chesterfield also 
overtook Camel.  Camel countered with a massive increase in advertising
spending and by doing so demonstrated the power of advertising during
depressed times.  By 1935, it was back on top.
So once again, those companies which took advantage of the Depression
and came through in good form were those who kept their name in front
of the public in spite of a lack of purchasing power." 
excerpted from http://answers.google.com/answers/threadview?id=178334

0 comments:

Post a Comment