Marketers anticipate business boost despite economy

Despite widespread belief that the economy will fall into recession during 2008, a high number of marketers believe business will improve for their organisation during the same period, a new report shows.

Research compiled by Ipsos MORI on behalf of the Chartered Institute of Marketing (CIM) shows that 41 per cent of marketers anticipate no change in their business during the next 12 months and 39 per cent believe their organisation will grow.

It discovered just 17 per cent predict that business will suffer.

Furthermore, spending on marketing is on the rise, with organisations spending an average of 7.7 per cent of their turnover on promotions, compared to 6.6 per cent in September last year.

David Thorp, director of research and information at CIM, remarked: "Today's professional marketers know that they can help their organisations' exploit the opportunities an economic downturn brings."

Earlier this month, Clash Media and E-consultancy published joint research which showed more than half of the average marketer's budget is now being dedicated to online promotional activity.