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November 1st: Torsten Jacobi, CEO of Creative Weblogging, joins host Anita Campbell. Sponsored by Six Disciplines. Show details.
Friday, December 12, 2003
Marketing Execs Target 2004 Spending
Fifty percent of U.S. marketing executives expect to increase spending on seminars and events in 2004. Forty-eight percent plan on increasing electronic advertising. Forty percent will increase online marketing, and 29% plan on spending more on keyword search engine buys. That's according to a survey of 125 marketing executives conducted in November 2003 by Patrick Marketing Group. The biggest planned decrease in spending was for print advertising (20%) and trade shows (18%).
While over three-quarters of those responding to the survey said that the economy remains weak, a majority said a recovery was imminent. More than a third labeled the economy "very weak" with spending down markedly in their sector and said that it was hurting them significantly.
Twenty-seven percent said the economy was making it harder to sell high-value products and services, pricing was under pressure, and their market was commoditizing. As a result they see a need to reposition their products and services in an effort to offer more value to customers and in an effort to maintain price levels.