Marketing Budget: How Much Should Brands Spend?
The most frequently used metric of marketing spending is a percentage of the entity’s revenues.
NEW THINKING
The most frequently used metric of marketing spending is a percentage of the entity’s revenues.
The context of consumer engagement for brands these days is that of a social economy, a marketplace in which nothing is worthwhile or valuable unless it is shared with others. This is not an easy environment for brands. It requires more than simply adapting a brand’s promise or performance to new needs or new priorities. Instead, it demands that brands be utterly un-brand-like.
In marketing, focus is always critical. Losing focus, especially in challenging economic times, can lead to ‘the end’ for brands. In what ways should a brand marketer focus? First, one should be very specific about the target customers and audiences to which the brand is intended to appeal. That drives everything else.
We regularly answer marketing questions here on Branding Strategy Insider. Today we hear from Victor, a brand marketer in Seattle, Washington who asks this question on brand positioning research…
Seems I’ve spent a lot of time in the interviewee chair over the years. Recently, I had a discussion with Jon Brulloths of PM360, a resource for pharma marketers. You’ll see his questions in bold. Our talk began with what should be a central theme for all marketers — brand differentiation…