Procter & Gamble didn't panic when the pandemic hit – not even when shares plummeted in the initial downturn. Instead, it cut spending in a few key areas, and increased it in its biggest key area of all: advertising. Investors quickly realized that the company was emphasizing in-demand products in its marketing, including a great deal of cleaning supplies. Now shares are up 15% year to date.
Remember that P&G is the world's largest marketer, as it has been for decades. It spent $10.1 billion on marketing in 2018, the most recent year for which information is available, according to Ad Age Datacenter.