The American Marketing Association and Duke University surveys Chief Marketing Officers (CMOs) every year on planned spending (“Look Both Ways: When Facing a Downturn, two heads may be better than one, by Christine Moorman, Marketing Management, November/December 2009). CMOs reported that they will spend more on market research and intelligence which should include competitive intelligence although the article did not specifically include CI. According to the article:
“Conventional wisdom is that companies should build and harvest more knowledge about the market in tough times. This countercyclical spending helps companies survive the downturn and be poised to leap ahead with a rebounding economy. Therefore, although firm growth strategies, such as entering new markets, have been ‘on hold,’ we see companies making investments in marketing knowledge. When asked to report their firms’ percentage change in spending in the next 12 months (compared to the prior year), marketers reported an increase in spending on marketing research and intelligence from 1.8 percent to 3.2 percent and on marketing consulting services from -4.3 percent to +1.3 percent. Both projected increases in spend indicate firms are making preparations for future growth.”
Looks like us consultants will be busier also.