Spending on Marketing Efforts Up Globally
The Global Marketing Index (GMI) released monthly by Warc shows an upward trend in marketing spending across the world. The GMI stood at 51.7 points in February 2013 and rose to 52.4 points for March 2013. This is the highest GMI reading since April 2012, good news for the worldwide economic situation, and even better news for marketing professionals.
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Marketing budgets in Europe stood at 50.5 points in March 2013, which is the first net increase in marketing budget increases in the region in the past 11 months. In Asia Pacific, the March index was 51.2 and in the Americas it was 55.4. GMI scores over 50 points indicate an upward trend in marketing budgets.
The index is derived from a panel of 1,225 executives, and uses data measurements including corporate marketing budgets, trading conditions, and staffing levels. All of these measurements showed a positive trend in performance during the month of March 2013. This is encouraging news for markets worldwide, according to a spokesperson for Warc.
Even in the midst of concerns over the economic stability in the euro zone, confidence is returning and companies are showing a willingness to increase their marketing budgets. In the Asia Pacific region, the GMI stood still from February to March 2013 at 56.2 points. The Americas showed a slight drop of .5 points to stand at 59. However, since the global economy ties these markets together so closely, a positive trend in one region is generally good news for all of the developed world.
Warc releases the GMI each month based on input from marketing industry professionals, including owners of brand names, owners of media, owners and industry executives in the creative industries, and other related industries. Participating industry executives fill out a monthly survey to report their marketing budgets, their hiring trends, and other conditions surrounding trading conditions. [/show_to]
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