P&G says confidence will allay double dip recession

Brands must “move forward with caution and confidence” to build a stronger, sustainable growth and avoid a double dip recession, according to P&G vice president and general manager for the UK and Ireland, Irwin Lee.

Speaking at the IGD Annual Convention later on today (12 October), Lee will paint an optimistic picture of the economic outlook and outlines three strands of action that brands  should take to “shape behaviour and create confidence in a brighter future”.

He adds that innovation, connection and collaboration will help shape the economic recovery and ensure sustainable growth.

“We need to look at how we innovate for the consumer, how we connect today and tomorrow and work together as an industry with the consumers’ best interest at heart, he says”

While recognising the impact of the Government’s spending cuts and  the rise in VAT coming into force in January 2011, Lee calls on industry to  be confident in the future and avoid “talking ourselves back into a double dip recession.

“Growth comes form a constant stream of innovation” but this has to be both horizontally into new areas as well as vertical into new price positions to serve the full scale of consumers.

In terms of connecting with consumers and driving brand messages, Lee is quick to point out that while developments in digital, mobile and social media are shaping how brands communicate with consumers, traditional media such as TV remains important for “mass reach”.

Lee adds: “We live in a multi-tasking, multi-sensorial, multimedia world so the question for the future of consumer connections isn’t how do we shift from traditional to new media, but how do we maximise multi-touchpoints.”

He also highlights the importance of collaboration between suppliers and retailers “to enhance the shopping experience” of consumers.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here