Are Happy Days here again?

The big spenders are back!

The sheer number of P&G products sold – volume — grew 7 percent over the recession-plagued 2009 quarter, the strongest year-to-year growth in 18 quarters, the company said. Management credited a stream of new products and beefed-up advertising and promotions. “Volume growth was strong as we accelerated our pace of innovation and increased marketing support,” said CEO Bob McDonald.

I’ll hedge and say, “perhaps.”  Or, “some.”

Our research among CMOs shows that fewer feel themselves under strict executive scrutiny and pressure than a year ago.  It is down from 89% in 2009 to…80% this year.  So compared to last year, this is good.  But in absolute terms we probably all think differently.

Here’s my simplistic analogy.  Our economy was a car going 100 mph.  Come 2008 and we hit the brakes hard.  Too hard, going from 100 mph down to 0 mph.  This year the engine is revving up and we are now cruising along at 50 mph.  It feels fast, very fast, compared to last year.  But it is still 50 mph.

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