A growing number of companies plan to respond to the uncertain outlook for advertising spending by reducing the number of marketing agencies they use.
A survey by the Marketing Society of 115 of its members reportedly found that more than a quarter would shorten their list of external consultancies.
However, more than two-thirds of the respondents said they would retain all of the agencies currently on their books, shows the survey, seen by the Financial Times.
Less positively, the sector’s growth prospects seem remote, as although a quarter plan to increase spending, the same number of marketers will cut their budgets in the next six months.
Sep 11, 2009
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