The Marketer, the official magazine of The Chartered Institute of Marketing, has reported how the recent recession forced many marketers to change their product and service offerings.
Following the spring wave of its Marketing Trends Survey, the CIM has revealed that 57% of marketers surveyed claim their business has had to adapt its product or service due to the economic climate. This is an increase of 11% in 12 months.
And, disappointingly, optimism about the state of the UK economy has fallen since the previous wave of the survey. Six months earlier, 51% of those surveyed expected the economy to become stronger in the coming year; this figure has now fallen to 43%. Seventeen percent actually predict that the economy will deteriorate.
On a slightly more positive note, however, almost half (48%) of marketers questioned expect a better year ahead for their own businesses.
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