ICA releases marketing budget survey
By Adnews Staff
The Toronto-based Institute of Communications and Advertising has released its latest survey of marketing budgets. This survey, conducted by NTC Research, draws on quarterly information provided by a panel of 270 senior Canadian marketing executives. According to the results, 19.4% of marketing budgets were increased during the first quarter of 2005, while 12.9% of budgets were decreased during the same period. About 35% of the respondents said that, on average, budgets for this year have been set higher than their actual marketing spend last year. "While the increases to marketing budgets show continued strength each quarter since we began this survey in 2003, it is also significant to note that companies reporting decreases in budgets have declined, suggesting a greater trust in Canada's economy," said institute president Rupert Brendon.