The Role of National Culture in Advertising’s Sensitivity to Business Cycles: An Investigation Across All Continents

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The Effect of Business-Cycle Fluctuations on Private-Label Share: What has Marketing Conduct Got to do with it? (2012, methodology): “In line with Deleersnyder et al. (2009) and Lamey et al. (2007), we regress the cyclical component of each marketing-mix instrument (MMck1t) on the cyclical component in real GDP:2 MMck1t = Â MMk GDPct + Øt1(3) where MMck1t and GDP c t are the cyclical components in marketing-mix instrument k and…”
From Finance to Marketing: The Impact of Financial Leverage on Customer Satisfaction (2015, background): “For example, advertising and R&D are commonly the first line items to be cut to meet earnings expectations or when the economy is not growing (Cohen, Mashruwala, and Zach 2010; Deleersnyder et al. 2009; Graham, Harvey, and Rajgopal 2005; Osma and Young 2009).”
Price and Advertising Effectiveness over the Business Cycle (2013, methodology): “Decreasing advertising budgets (Deleersnyder et al. 2009) will result in less competitive clutter (Danaher, Bonfrer, and Dhar 2008), which may make it easier for customers to notice individual firms.”
What Makes Consumers Willing to Pay a Price Premium for National Brands over Private Labels? (2010, background): “Thus, it is worrisome that in recessionary times, when NBs are already under pressure, companies cut back on advertising and innovation activity (Axarloglou 2003; Deleersnyder et al. 2009).”