Marketing budgets may improve in this quarter

livemint.com:

Marketing budgets are likely to see an increase from a diffusion index of 85.1 in the second quarter of 2023 to 92.6 in the third quarter, registering a jump of 8.8%, said a new report. TRA’s Marketing Decision Index (MDI) said regional print advertisements are indicated to take the highest share of the marketing budget in Q3 2023 with an allocation of 13%, followed by out of home (OOH) advertising at 11%. National TV Ads, trade media and radio advertising are at 10% each.

Local TV ads and English print ads are indicated to get 9%, while public relations & social media get 7% each. Digital search and digital ads are indicated to get the smallest allocation at 6% in the coming quarter. It said its marketing diffusion index measures the proportion of the components that contribute positively to the index The overall India indicators of ‘business optimism’ in Q3 of FY23 indicate high business optimism in the third quarter of the year.

Its expectation has moved up slightly from 89.37 in the second quarter to 92.68 (measured on a diffusion index of 100, with above 50 showing positive and below 50 showing negative), improving on the optimism and remaining significantly positive in the third quarter. The biggest gainers in the marketing budget allocations were seen in national TV advertising with about a 3% increase. Trade media, out-of-home and print advertising saw a 2% rise each.

Social media saw an increase in budget of 1% as well. But there were several mediums where the budgets lessened. These were local television ads which had a negative growth of 5% and public relations too saw a 3% decline.