The Institute of Communications and Advertising (ICA) survey of marketing budgets revealed its highlights yesterday. The report suggests that marketing budgets were boosted in Q2 as companies felt more confidence in the economy. There was an overall increase of marketing dollars allocated as a result of solid sales and profits and improved expectations. The biggest gains were found in consumer-oriented sectors, specifically consumer durables, consumer packaged goods, travel and entertainment and retail. The public sector, media and financial services sectors also noticed an upward trend.
The confident outlook in marketing indicated an increase in budgets for media advertising – the biggest since the survey began two years ago. Other winners in the marketing spend category include sales promotions and the Internet, with the latter showing the strongest, most consistent rate of growth. On the down swing are direct marketing budgets and ‘all other’ marketing including PR, market research, corporate communications and sponsorship. The survey is published quarterly and conducted by NTC Research, a global research firm. The info is compiled from a panel of 270 Canadian senior marketing execs.
