Good news. U.S. unemployment is the lowest since February 2003 according to Reuters. This news was brought forth quickly by the government to show the blackout did not affect employment stats. Unfortunately, CNN tells us that you are 25 percent more likely to lose your job after Labor Day as companies prepare their 2004 budgets. September budget planning is a topic I have discussed in the past.
Marketing teams should already be reviewing 2003 efforts and results to fuel the most informed 2004 planning possible. You do not want a budget to define strategies.
The CNN stat is a chilling reminder of the need for a buttoned-up, research-fueled plan incorporating success measurements. This allows you to review your accomplishments during the planning process—rather than defend your actions.
In other news, P&G is launching a $100 million marketing campaign to promote its heartburn drug Prilosec. $100 million sounds like a lot, but the stakes are high for companies moving a drug from prescription to over-the-counter. Much in the way prescription drug patents are used to maintain market share, an effective product launch helps do the same.
P&G is infamous for its launches and it will be interesting to observe how ubiquitous the heartburn drug becomes—from Web banners to point of need sampling. Don't be surprised if you are approached by a Prilosec Procurator when grocery shopping for your Labor Day barbecue. P&G is an expert at pushing your buy button
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