Marketers’ confidence about the financial prospects of their companies has plunged to a two-and-a-half year low, according to the Marketing Week/Institute of Practitioners in Advertising Optimism Survey.
The weak level of confidence is in contrast to the widespread optimism of the previous quarter.
Marketers are also significantly less optimistic about the financial prospects of their industry for the second successive quarter. Just 14% say they are more optimistic about the prospects of their industries compared to 48% reporting a drop in confidence.
That drop is attributed to the credit crunch, the Northern Rock crisis, and the inflationary pressures in the second half of the year.