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Business Optimism improves, remains Significantly Positive: TRA’s Marketing Decision Index Q2 2023

Published: April 12, 2023
Author: TEXTILE VALUE CHAIN

Key points of TRA’s Marketing Decision Index Q2 2023
•	India's Business Optimism remains significantly positive with TRA's Marketing Decision Index (MDI) improving slightly to 89.37 in Q2 2023 from 88.2 in Q1 2023.
•	Online mediums lose strength with Radio Advertising (68.60) being the strongest medium in Q2, followed by National TV (61.94), Social Media Advertising (60.59), Digital Search (60.47), and Digital Advertising (60.09).
•	Local TV Advertising (14%) is set to receive the highest share of marketing budget in Q3 2023, followed by Regional Print Advertising (11%), Public Relations and Radio Advertising (10% each), while Social Media is indicated to receive the smallest allocation at 6%.
•	Radio Advertising showed the highest strength (68.60) among all mediums in Q2, while social media (60.59) maintained the third position, and national TV (61.94) took the second slot.

Hyderabad, 12th April 2023: TRA’s Marketing Decision Index (MDI) Q2 2023 is a quarterly benchmark report, the second in its series, and a global first that provides leading indicators through primary research conducted with 757 Marketing Decision Makers (MDMs) across 16 Indian cities between January and March 2023. In Q2 2023, India’s business optimism improves and remains significantly positive, with TRA’s MDI improving slightly to 89.37 in Q2 2023 from 88.2 in Q1 2023. Marketing budgets for the next quarter are set to increase considerably, from 80.5 in Q1 2023 to 85.1 in Q2 2023, a jump of 5.7%, reiterating the optimism in the quarter.

In Q2 2023, Radio Advertising showed the highest improvement (ranked 11th in Q1), with a strength of 68.60, followed by National TV (61.94) moving up three positions, Social Media (60.59) rising by one rank, and Digital Search (60.47) maintaining its fourth place. Digital Advertising dropped four ranks (60.09) to fifth place, Public Relations saw a significant decline in ranking (46.39) from Q1 to Q2, Local TV Advertising had a slight decline (44.67) to seventh place, and OOH witnessed a small decrease (40.08) to eighth place.

In comparing marketing medium strengths across four zones, Radio Advertising and Digital Advertising have shown higher levels of strength gains across all zones, while National TV Advertising has shown mixed results with higher strength in the West zone and lower strength in the South zone. Local TV Advertising has experienced lower levels of strength, particularly in the South zone. Fluctuations in strength have also been observed in Print Advertising, Out-of-Home (OOH), and Public Relations across different zones. The trends emphasize the need for companies to regularly modify their marketing approaches to maintain a competitive edge.

The report is meant to provide MDMs with timely, relevant, factual data to help in making applied marketing spend decisions using national, zonal, and city benchmarks.

About Marketing Decision Index

TRA’s Marketing Decision Index (MDI) Q2 2023 is the 2nd quarterly benchmark report and a global first that provides leading indicators through primary research conducted with 757  Marketing Decision Makers (MDMs) across 16 Indian cities from January to March 2022. The report is meant to provide MDMs with timely, relevant, factual data to help in applied marketing spend decisions.

Please visit www.MarketingDecisionIndex.com for full report with detailed analysis data on Marketing Budget Allocations, Marketing Budgets, Media Spend Effectiveness & Media Budget Momentum and Revenue Optimism.

About TRA Research

TRA Research, a part of the Comniscient Group, is a consumer insights and brand analytics company dedicated to understanding and analyzing stakeholder behavior through two globally acclaimed proprietary matrices of Brand Trust and Brand Desire. TRA Research conducts a primary research with consumers and stakeholders to assist brands with their business decisions based on researched consumer insights. TRA Research is the publisher of TRA’s Brand Trust Report and of TRA’s Most Desired Brands for the last 12 years.

Please visit www.trustadvisory.info for more information

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