Industry projects 3% spending rise for coming year

Marketers are cautiously optimistic about 2004 and expect a 3% rise in marketing spend, according to a survey conducted for the Chartered Institute of Marketing.

The Marketing Trends Survey questioned more than 100 sales and marketing professionals, most of whom predicted a stronger economy in 2004, but said the growth will not amount to a boom.

Marketing jobs are looking more secure than in 2003, when many marketing departments downsized. When asked whether they were expecting an increase in the size of their department this year, 26% of respondents said yes, compared with just 9% predicting a reduction in their sales and marketing function.

Similarly optimistic is the IPA Bellwether Report for the fourth quarter of 2003, which shows the most positive outlook for adspend since 2000.

More than half of the 250 companies surveyed said 2004 budgets are higher than 2003.

Direct marketing and sales promotion experienced the biggest rises in 2003, while media adspend remained unchanged for a second year.

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