Easing raw material prices will provide consumer goods makers headroom to allocate more funds for advertising and promotions (A&P), according to industry insiders. This will be a welcome relief after record-high inflation ate into companies’ marketing budgets for several years.
“When inflation was high last year, A&P spending was reduced first. Since the scenario has reversed, we do not see why we will cut back our marketing budgets," said Manoj Verma, the chief operating officer of Bikaji Foods International Ltd.
The upcoming festive season is likely to be a big driver for the company’s volumes, as consumers tend to buy large gift packs of namkeens, snacks and sweets, he said. “We are coming up with ad films that will be aired. The festive season is big for us, and that’s where our marketing spend is primarily skewed towards. You will see us back on air big time."
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