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20 January 2013
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The average size of annual marketing budgets of mining industry suppliers was recorded at US$3.3 million in 2012, and has decreased to US$2.5 million in 2013. Mining suppliers that operate in Asia-Pacific have the highest average budgets of US$4.5 million in 2013.
Market uncertainty', 'falling demand', 'responding to pricing pressure' and 'retention or recruitment of skilled staff' are identified by respondents as the pressing business concerns in the global mining industry. Among buyers, 50% of respondents rate 'market uncertainty' as the important business concern in 2013, while 42% highlight 'falling demand'. Among suppliers, 'market uncertainty' and 'responding to pricing pressure' are considered the significant business challenges in 2013, according to 57% and 36% of respondents respectively.
Key Market Issues
- 'Market uncertainty' and 'responding to pricing pressure' are considered the significant business challenges by global mining industry supplier respondents in 2013.
- 'Market uncertainty', 'responding to pricing pressure', and 'falling demand' are identified as leading business concerns by respondents from companies with leading operations in North America, Europe, and Asia-Pacific.
- Buyers consider the need to 'work harder to reduce costs', 'innovate products' and 'reduce prices' to be actions suppliers should demonstrate to secure business.
- 'Market uncertainty', 'retention or recruitment of skilled staff', and 'falling demand' are identified as leading business concerns by respondents from small and large companies.
- The most important actions identified by senior-level respondents are to 'innovate product', 'engage in partnerships to optimize working capital and reduce costs', and 'demonstrate better ROI'.
- The average size of annual marketing budgets of global mining industry supplier respondents in 2013 is US$2.5 million. In 2012 and 2011, the average annual marketing budgets were recorded at US$3.3 and US$1.7 million respectively. This implies that marketing budgets are set to decrease considerably in 2013.
- A comparison of global marketing budgets by operating region shows that global mining industry suppliers from companies that operate in Asia-Pacific have the highest average budgets of US$4.5 million in 2013. Respondents with leading operations in North America and the Rest of the World have the next-largest average budgets estimated at US$2.4 million and US1.0 million respectively.
- Our industry survey revealed that, on average, the marketing budgets of global mining industry suppliers are projected to increase by 6.9% in 2013. In contrast, the expected levels of increase in average marketing budgets have mostly remained unchanged compared to 2012.
- Global mining industry supplier respondents project to increase their investments in media channels such as 'online portals' and 'social media and networking sites'.
- 'Web design and development', 'branding and imaging', and 'direct marketing' agencies are considered important amendments to marketing activities in 2013.
This report analyzes how global mining industry companies' marketing expenditure, business strategies, and practices are set to change in 2013-2014. This report provides data and analysis on category-level spending outlooks, budgets, marketing expenditure trends, business challenges, and investment opportunities of leading purchase decision makers in the global mining industry.
The report also identifies future growth of buyers and suppliers, M&A, capital expenditure, staff hiring and key factors for marketing agency selection in the global mining industry. This report not only grants access to the opinions and strategies of business decision makers and competitors in the global mining industry, but also examines their actions surrounding business priorities. The report also provides access to information categorized by region, company type, and sizes.
- Project industry trends and revenue growth expectations in 2013, and understand business confidence to make informed business decisions.
- Drive revenues by understanding future product investment areas and key growth regions.
- Uncover key challenges and opportunities, and identify key actions required to maintain and win buyer business.
- Formulate effective sales and marketing strategies by identifying how suppliers' marketing budgets are changing and the direction of spend in the future. Better promote your business by aligning your capabilities and business practices with your customer's changing needs.
- Secure stronger customer relationships by understanding the behaviour and changing strategies of industry suppliers.
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