Chairman and CEO of Proctor & Gamble Co., A.G. Lafley, gave all media buyers, ad directors, publicists, etc. heightened anxiety and stress when he told analysts, "This media environment is a big 'O' opportunity for us, because we're the biggest advertiser in a lot of these countries, and we can just walk in and tear up the contract."
P&G spent $8.7 billion on advertising in fiscal 2008! Their current advertising spending in the first 9 months of the current fiscal year has declined to $2.2 billion...
We are just in shock that they ever spent that many BILLIONS of dollars on advertising! What do you think of P&G's ad spending and of Lafley's daring comment?
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