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17.2.2011 US marketing spend to rise

Marketing expenditure levels through both traditional and digital channels are set to improve this year in the US, a poll of executives has found. Duke University's Fuona School of Business and trade body the American Marketing Association polled 421 senior marketers. Using a 100-point scale, participants awarded the contemporary economic situation 63.3 points, measured against 55.6 points in similar research published in August 2010. Concerning the revenue prospects for their own company, respondents supplied an average 73.2 points, up on 66.7 points in the last round of analysis. More specifically, 74% of contributors believed shopper purchase volumes would increase in the next 12 months, while 59% thought established customers may acquire greater numbers of related goods.

Another 53% reported they now had a stronger capacity to retain loyal buyers, and 49% expected new category entrants to provide profitable possibilities. The proportion of industry specialists anticipating their target audience might continue to focus on low prices fell from 56.9% in August 2010 to 48.3% in February 2011. Such figures stood at 64% and 71.2% regarding service and reached 64.6% and 62.4% covering quality.

When discussing marketing budgets for the year, interviewees pegged the normal projected lift at 6.7%. Traditional media expenditure is set to expand 2.4%, while the resources behind introducing new products grow 8.2% and spending on brand-building jumps 9.1%, the same total as customer relationship management. The funding dedicated to web-based initiatives is in line to deliver the largest growth, rising 12.1% in the coming year. Approximately 8% of budgets will go to marketing research and intelligence, with 4.7% allocated to marketing consulting, 8.8% to enhancing knowledge, 8.1% to consolidating information and 5.6% to training.

B.L. 17.2.2011