“Does marketing still matter?” Marc Pritchard, Procter & Gamble’s chief brand officer, asked delegates at the Association of National Advertisers’ (ANA) 2018 Masters of Marketing Week.
As CMOs, he told the conference audience of some 3,000 delegates, “this question is surprising, if not a bit insulting. But, when you step back and look at what’s happening, it’s kind of understandable.”
The most troubling indicator is also the most visible, he allowed: “We spend hundreds of millions of dollars on marketing worldwide, and industry growth is low, and half the companies are declining...