When asked about how the UK economy would fare over the coming year, a mere 3% thought the economy would improve – the lowest figure across the UK. Those expecting economic conditions to worsen stood at 59%, up significantly from the 39% this time last year who thought the economy would worsen.
As with marketers elsewhere in the UK, Scottish marketers remain more positive about their own organisation’s prospects, though confidence has dropped markedly in the last 12 months. Just under a third (31%) believe business for their own organisation will improve over the next 12 months – this time last year the figure stood at 67%.
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Anticipated sales performance figures tell a similar story. The average figure of a 5.5% sales increase is slightly lower than the UK average of 6.2%, and well below the 9.7% growth Scottish marketers expected in Spring 2007.
Commenting on the survey’s findings, David Thorp, Director of Research and Information at The Chartered Institute of Marketing said: "Although marketers in Scotland are pessimistic about the UK economy, professional marketers will be looking to the opportunities an economic downturn can bring. By focusing on changing customer needs more precisely, they can help their organisations to not only survive but thrive in these challenging times."
The Institute’s marketing trends survey also looked at attitudes towards the 2012 Olympics and sustainability.
Just 31% of Scottish marketers are likely to undertake some marketing activity in relation to the 2012 Olympics; significantly below the UK average (42%). Asked whether the 2012 Olympics was a good investment of taxpayer’s money, 40% disagreed – far higher than the UK average of 28%.
Three fifths of marketers in Scotland believe that a company’s sustainability practices affect customers’ buying decisions (61%). However, when asked if an economic downturn would lead to sustainability dropping down consumers concerns, more than half (52%) agreed that it would.
(GK/NS)
