In the words of Kel Mitchell on Nickelodeon's "All That," GOOD LORDIE THAT'S A LOT OF MONEY!
It was just released that Procter and Gamble had increased ad spending to a whopping $1 billion this past fiscal year. It wasn't money completely wasted however, earning a 4% increase in organic sales growth and an 8% volume growth.
"Put simply, we would have been crazy to do anything else," Mr. Moeller (Chief Financial Officer) said of the spending increase. "If you look at the strength of the innovation program that was coming to market, we literally took every resource available to us and put it behind those innovations."
Read the entire AdAge article here.
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