Kellogg CEO: $1B ad budget to boost company's revenue

02/24/2008 | Advertising Age (tiered subscription model)

Kellogg Co. CEO David Mackay announced that the company plans to allocate more than $1 billion solely for marketing and redirect spending from campaigns that yield the lowest rate of return to more efficient forms of advertising. Mackay, however, admitted that assuring investors that the bigger ad budget will produce greater results has been challenging. He also revealed that the company is seeking ways to slash expenses and has devised case studies that highlight best practices for its global units.

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