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UK Marketers Upbeat Despite Downbeat Economy
In the UK, marketers remain upbeat about their own organisation's prospects even if they feel less positive about the UK's economic outlook, according to research conducted by the Chartered Institute of Marketing (CIM).
The Institute's latest Marketing Trends Survey reveals that more than a third of marketers believe the UK will be in recession in 2008, with the number of marketers expecting general economic conditions to decline in the next 12 months rising from 40% to 57% since the previous survey last September.
Yet despite this, marketers remain optimistic about their own organisation's performance, with 39% of marketers confident that business for their organisation will improve during the next 12 months, 41% saying that it will stay the same, and just 17% believing conditions will worsen for their business.
Commenting on the air of optimism, CIM Director of Research David Thorp said: 'This may be because today's professional marketers know that they can help their organisations exploit the opportunities an economic downturn brings. By focusing on changing customer needs more precisely, in these challenging times, they can help their organisations to not only survive but thrive.'
The survey also highlighted that spending on marketing continues to rise, accounting for an average of 7.7% of an organisation's turnover (up from 6.6% in September 2007). In 2008, around a third (30%) of marketers are expecting to recruit staff, while only one in ten are anticipating a decrease in the size of their organisation's marketing department.
A total of 2,058 marketing professionals completed the online questionnaire which was hosted by Ipsos MORI. Web sites: www.cim.co.uk and www.ipsos-mori.com .
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