Half of global companies significantly affected by recession

Kate Maddox
Story posted: August 18, 2009 - 12:00 pm EDT

New York—The effect of the recession has been “largely” or “extremely” significant for half of international corporations, according to a recent report by market researcher B2B International.
The report was based on an online survey of about 400 senior marketers at global companies.

It found that 66% of companies have cut marketing budgets as a result of the economic downturn, and 70% have realigned their focus from a wider offering to core products and services.

When asked about their views on the economy over the next 12 months, 60% of b-to-c marketers were optimistic, compared with only 44% of b-to-b marketers.

The most important issue faced by b-to-b companies is the struggle to keep their sales high, while the two main challenges for b-to-c companies are maintaining sales levels and keeping costs low.