http://adage.com/article?article_id=129732
Ad Spending to Change as Beverage Giant Hopes to Save up to $500M a Year by 2011
The company will look to reduce "nonconsumer-facing" programs through increased use of global campaigns. It will also leverage best practices for creative and overall execution, as well as optimize its use of agencies. As an example, Mr. Kent said Coca-Cola recently completed a global marketing research agreement that will replace a number of local agreements.Coca-Cola Exec VP-Chief Financial Officer Gary Fayard said that given the economy, the company is maintaining a "disciplined" approach to marketing. That entails a slight increase in total direct-marketing spending vs. planned spending, as well as the reallocation of funds against certain geographies to drive growth.
That doesn't mean, however, it will turn off the spending spigot. "By continuing to invest in difficult economic times, our system is seeking to build a stronger bond with consumers and a stronger share position for the long term," he added.
