More than a quarter of firms raised their SP budgets over the third
quarter of this year against a general reining in of overall marketing
spend, according to the Institute of Practitioners in Advertising's
latest Bellwether report.
'SP spend is looking good, the main slowdown seems to be in media
advertising,' said Hamish Pringle, IPA's director of marketing strategy.
'Results suggest marketers are shifting monies from one sector to
another, and SP spend could be up as firms invest more here in the
run-up to Christmas.'
But findings from the 300-firm survey showed that total budgets for the
current financial year had been revised down on average during the third
quarter - the first downward revision since the survey started.
'Budgets are still higher than last year, and over half of the companies
(55 per cent) setting total marketing budgets for 2001 report that
expenditure has been set higher than for 2000. But there is a slowdown
in the third quarter, which is likely to continue into the fourth,' said