by Tim Bourgeois 

“How much are your competitors going to spend on marketing this year? And, how much will your company spend?

A straightforward enough question, but it’s been our experience that many executives are more likely to know payroll data for the New York Yankees or Pittsburgh Pirates ($206M and $35M, respectively) than they are their own company’s marketing budget – or that of the competition.

The importance of getting these questions answered is rather obvious, but it’s often overlooked during the marketing strategy process. Knowing a blunt force data point such as ‘spending’ does not constitute a strategy, of course.”

Full Story