Marketing News
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by The Newshoundon Jun 17 |
Australian company directors to spend through slowdown
GSG co-founder and managing director, Graeme Chipp said the survey results emphasise that when times are tough, confidence in strategy and willingness to sustain a focused marketing investment are paramount.
"Staying competitive in an increasingly difficult market place with limited resources was clearly the number one challenge for Board Directors," Mr Chipp said.
"The survey we conducted shows company leaders clearly understand that to do this they must maintain their presence in the market," he said.
The survey also found that the main reason behind plans to increase were offensive marketing reasons. 28 percent of respondents felt an increased marketing spend was important to increase awareness and share of mind, 14 percent to stay ahead of competition – as they cut
And 8 percent to grow share/ enter new markets.
The survey findings also highlighted that the interaction and direction of marketing is mixed across many boards.
- Forty percent stated that marketing was not a key driver or had limited impact on company’s competitive advantage
- While 70 percent felt the marketing function effectively engaged the board, 30 percent did not.
- Forty-four percent of board’s discuss role and impact of marketing at best once or twice year.
- Only half of the Company Directors surveyed planned to spend more time on customer related issues.
"Our experience is that a ‘whole of company’ marketing approach starts in the boardroom. This data provides further evidence of the continuing challenge facing marketers to earn the due respect and attention of many directors around the role and impact marketing can deliver to company value." Mr Chipp said.
"Those Board Directors who valued the role of marketing, considered its role pivotal in securing their company’s competitive advantage, invested more time in the marketing process and will be better equipped to witness the results on the bottom line."
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- Wrote on 30 Aug, at 07:11PM