Effectiveness will be increased, but marketing budget will be reduced in 2014, warns Procter & Gamble CFO Jon Mueller. The FMCG giant is cutting back on expenditure and will rely more on digital
and social to deliver improved results at lower costs. The move to scale back on television spend in favour of digital channels has already seen a 9% drop in UK spend in 2013, according to Nielsen's
Ad Dynamic. "We have improved marketing effectiveness and productivity through an optimised media mix," Mueller told analysts. "Marketing spend will be below the prior year but overall effectiveness
will be well ahead."
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