Coke to cut marketing spend

Coca-Cola is looking reduce its nonconsumer-facing marketing programmes as it aims to save between $400 million and $500 million a year by the end of 2011.

Chief executive of Coca-Cola Muhtar
Kent told that the company is undergoing an aggressive review of
spending and marketing is to be a primary area of focus.

In the second quarter, earnings at
Coca-cola fell by 23 per cent to $1.42 billion from $1.85 billion,
however revenue increased 17 per cent to $9.05 billion.

The company will now look to reduce
nonconsumer-facing programs through increased use of global
campaigns. It will also leverage best practices for creative and
overall execution, as well as optimize its use of agencies.