At the same time, the company says that trims in ad spending don't necessarily hurt brands. According to CFO Clayton Daley, P&G's North
American fabric-care business cut ad spending as a share of sales by 2% over the last five fiscal years, but saw sales jump $900 million while boosting market share and building scores for brand
equity on flagship Tide to record levels.
"Our sustained-growth model doesn't actually count on P&G reducing marketing as a percent of sales," Daley says. "As such, we will look to reinvest [marketing-efficiency savings] back in the business."
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