P&G CUTS SPENDING
By Adnews Staff
Procter & Gamble of Cincinnati plans to cut its marketing spending as a percentage of sales by a fifth, by the year 2000. The consumer products giant intends to drop the marketing costs from 25% of sales to 20%. P&G wants to be able to lower prices and keep its products competitive with generic, store-branded and private-label goods. In Britain P&G has cut TV advertising an average of 10%. P&G officials in Canada were unavailable yesterday to comment on how the company will reduce marketing costs here.
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