Article July 19, 1982 Issue

Turning a business around

H. JACK WYMAN

It was to be a pleasant business luncheon. The president of a financial institution that was one of our most important clients, his marketing director, our account executive', and I as president of the advertising agency made up the group around the table.

After exchanging pleasantries, the client president dropped his bombshell.

"Due to the difficulties we're currently experiencing at the financial marketplace, it's necessary to substantially cut our advertising budget immediately." At the same time the company's marketing director informed us of the importance of maintaining a high level of agency service.

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