> Does/will Coke cut its branding budget? Yes, of course. They all do. When you have less demand and people have less disposable income, you tend to put more m

> Does/will Coke cut its branding budget? Yes, of course. They all do. When you have less demand and people have less disposable income, you tend to put more money into measurable advertising that can directly impact the bottom line. I think you'll agree that Coke's brand is safe and as Buffett says, the moat is very, very wide indeed so to them, cutting branding budget will not show any impact for at least 2-3 quarters.