Manufacturers Slash Marketing Budgets, But Specifics Vary

A number of leading chemical companies are making cuts in marketing capabilities, an industry source told CW. Such cuts are generally in line with industry-wide reductions, and company spokespeople note that marketing is not being specifically targeted. However, marketing staffs are often small, so a minor cut can have a disproportionate impact, says Phil Allen, president of GEMS Europe, a marketing services company. “I’ve heard that companies are cutting marketing more [than other business segments],” he adds. Some companies have acknowledged a...

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