Marketing spend is best in two years

Steve Dinneen
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MARKETING budgets were raised in the first quarter of this year for the first time in ten quarters.

Companies also remain upbeat about financial prospects, according to the latest IPA/BDO Bellwether survey. It found firms expect the ongoing economic recovery to gain momentum, and plan to raise their spending for 2010.

Around 42 per cent of marketing executives were more optimistic about the financial prospects for their company than they were three months ago and over a third of companies have set 2010 budgets higher than the year before. This contrasts to 2009 when spending fell for the second successive year, albeit at a slower rate than the record decline seen in 2008.