TRA’s Q2 MDI shows business optimism in India remains positive
Marketing heads are extremely cautious and picky about where to invest their budgets, and are closely watching which medium best works for their brand
Mumbai: India’s business optimism improves and remains significantly positive, with TRA’s MDI improving slightly to 89.37 in Q2 from 88.2 in Q1.
Marketing budgets for the next quarter are set to increase considerably, from 80.5 in Q1 to 85.1 in Q2, a jump of 5.7 per cent per cent reiterating the optimism in the quarter, says a finding by TRA Research. TRA's Marketing Decision Index (MDI) Q2 is a quarterly benchmark report, the second in its series, and a global first that provides leading indicators through primary research conducted with 757 Marketing Decision Makers (MDMs) across 16 Indian cities between January and March.
Talking to Bizz Buzz, N Chandramouli, CEO, TRA Research, said: This is the second quarter of TRA's MDI and it is the collective information from 750+ marketing decision makers across 16 cities. The revenue optimism for this quarter has improved and stays significantly positive. The increase in marketing budgets also reinforces the optimism.” Gauging from the change in strengths of different marketing mediums, it shows that marketing heads are extremely cautious and picky about where to invest their budgets, and are closely watching which medium best works for their brand, he said.
In Q2, radio advertising showed the highest improvement (ranked 11th in Q1), with a strength of 68.60, followed by National TV (61.94) moving up three positions, social media (60.59) rising by one rank, and digital search (60.47) maintaining its fourth place. Digital advertising dropped four ranks (60.09) to fifth place, Public relations saw a significant decline in ranking (46.39) from Q1 to Q2, local TV advertising had a slight decline (44.67) to seventh place, and OOH witnessed a small decrease (40.08) to eighth place.
In comparing marketing medium strengths across four zones, radio advertising and digital advertising have shown higher levels of strength gains across all zones, while national TV advertising has shown mixed results with higher strength in the west zone and lower strength in the south zone.