Mountains of studies, books and evidence show companies who maintain or increase advertising spending during tougher economic times almost always come out of those economic difficulties much stronger than their ad-cutting competitors. However, the knee-jerk reaction of most companies still seems to be cut cut cut. Once again, a company has proven the old wisdom.
Hyundai, a car company largely not taken seriously even just a few years ago, seems to be solidifying its position as a major competitor in the US auto market, bucking industry trends along the way. I'm not sure of the exact numbers on Hyundai ad spending, but I do know they have at least maintained, if not increased their advertising presence in the marketplace during the downturn. Their reward while other automakers are cutting spending? Two models that have actually seen serious sales GAINS - the Hyundai Elantra is up 33% over last year and the Hyundai Accent is up 30%. That's on top of an '09 North American Car of the Year Award for the Hyundai Genesis.
Take notice automakers. Hyundai's been at the books, using proven wisdom and gaining ground quickly.