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Panel: How agencies, marketers can survive the downturn
"Most people in this business don't yet understand how hard this recession is going to hit by the first and second quarters of next year," warned John Quelch, Harvard Business School professor and WPP Group board member, at the Marketing in a Downturn Emergency Session, hosted by WPP-owned Hill and Knowlton in New York. "It's going to be very severe and they don't understand how deep and long this thing is going to be," he added.
And while those were Mr. Quelch's closing remarks to the audience at Manhattan's Soho House, the gathering wasn't all about doom and gloom. He, along with a panel moderated by Michael Kelley, partner for advisory services at PricewaterhouseCoopers, featuring WPP agency executives including Marylee Sachs, global director of consumer marketing, Hill and Knowlton; Rob Norman, global CEO Group M Interaction; and Jan Jacobs, CEO Johannes Leonardo, were there to offer advice on how marketers could better manage the challenges created by the current recession.
Ms. Sachs said that while her agency has been "seeing a lot of opportunity," it has not been without its share of issues and barriers. She believes the opportunities are coming from marketers looking to do more in the social-networking space and tap into the practice of brand advocacy.
Read the full story in Advertising Age
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