DETROIT -- General Motors top marketing executive says there will be general belt-tightening in every area as GM cuts its marketing budget.
Mark LaNeve says he has met with all GM ad agencies and asked them to remove any unnecessary work. That way, GM wont directly take down their fees, but they take out some work, and by that the fees come down, LaNeve told Automotive News in an interview on Thursday, July 17.
GM can market products successfully using little money, he says. For example, GM spent just $10 million to launch the new Pontiac Vibe, LaNeve says. We hit every target, and only $3 million of that was spent on TV.