CMO: Shift to digital is a boon for P&G

Marc Pritchard, chief marketing officer at Procter & Gamble, said the company will shift away from expensive television ads in favor of digital marketing as it seeks to trim $1 billion from its marketing budget by 2016. "To build a brand, you have to have great ideas," he said. "Now apply that to digital and all the new technology that's available. We have a much greater degree of opportunity to innovate."

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