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Advertising Age predicts a slowdown in marketing spending later this year, noting that “amid roiling financial markets, a who's who of blue-chip marketers are making moves to slash marketing spending, or at least apply tougher financial discipline to what they do spend. Among them are five major companies that together contribute more than $10 billion to the U.S. ad economy: General Motors Corp., Procter & Gamble Co., Anheuser-Busch, Coca-Cola Co. and Nissan.”

One example of where the business community’s priorities may be can be seen at Procter & Gamble, which “last week appointed as its new Global Marketing Officer Marc Pritchard, who spent eight years in finance compared with only six in brand management and marketing. The new steward of P&G's reported $7.9 billion global ad budget has spent the past two years developing corporate cost-cutting initiatives and before that was known by marketing executives who worked with him for his keen eye on spending.”

In addition, Ad Age writes, “Coca-Cola wants to save between $400 million and $500 million a year by the end of 2011 and wants to find some of those savings in marketing.” And the acquisition of Anheuser-Busch by Belgian brewer InBev is also expected to have an impact on A-B’s marketing expenditures.

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