Ever‐rising marketing budgets are becoming an explosive issue. On advertising alone, companies spend fortunes: Nestlé, $11 billion; Unilever, $8 billion; General Motors, $4.7…
Abstract
Purpose
Ever‐rising marketing budgets are becoming an explosive issue. On advertising alone, companies spend fortunes: Nestlé, $11 billion; Unilever, $8 billion; General Motors, $4.7 billion; Procter & Gamble, $3.8 billion; Sony, $3.4 billion; and Coca‐Cola, $1.7 billion. With no end in sight to escalating marketing outlays, many executives are asking two questions: “Is our company spending the right amount on marketing?” and “Are we spending it in the right places and on the right activities?” To get more bang for your buck, the authors suggest setting aside the first question and focusing on the second.
Design/methodology/approach
In this article, the authors explore the limitations of current approaches to setting marketing budgets and then outline five factors that should drive how companies allocate their marketing budgets, namely: the profitability that new revenue from a business unit or product would generate; the responsiveness of customers to marketing; the revenue growth potential of a market; the marketing responses of competitors; and the degree to which a particular type of investment builds longer‐term growth in addition to near‐term impact.
Findings
The new approach described in this article produces four main benefits: It provides a more objective, factual basis for determining annual marketing budgets; it improves the quality of discussions and decisions around marketing allocations; it can be applied at all levels throughout the organization; and it can identify the new marketing capabilities a company needs.
Originality/value
The article offers a new, simpler approach to thinking about marketing allocation that helps big companies shift their marketing budget debate from “how many dollars to spend altogether?” to “where to spend those dollars?” While companies should continue their quest to answer the first question with rigor, until they get there, answering the second question can create substantial value.
Details
Keywords
The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online…
Abstract
The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online information and documentation work. They fall into the following categories:
Regina Koury and Spencer J. Jardine
Cloud computing flexibility has advantages for IT professionals as well as non‐technical users. This paper aims to look at cloud computing from the library instruction…
Abstract
Purpose
Cloud computing flexibility has advantages for IT professionals as well as non‐technical users. This paper aims to look at cloud computing from the library instruction perspective. The authors aim to discuss types of cloud computing applications for organizing information and sharing content, creating tutorials, collaboration, scheduling and storage. Additionally, the paper seeks to discuss types of applications used at ISU for library instruction and implications for teaching.
Design/methodology/approach
The authors conducted a literature review followed by practical applications of library instruction that included cloud‐computing technologies.
Findings
The paper encourages library professionals to take advantage of cloud computing applications to provide better library instruction.
Originality/value
This paper offers insights on how cloud computing can be used for library instruction.