Industry bosses make the most of their opportunity

Joe Talcott has a nice way with an anecdote.

The News Ltd marketing boss made the best two observations of the morning at Ogilvy’s session on how brands can survive the recession.  

In one insight into downturn consumer psychology, he told the audience how he was behind a woman in a supermarket queue.

Her basket was loaded, but she told the cashier she had just $53.40 in her bank account and the bill had to come in under that. First went in loose tobacco and coffee. The lesson for marketers from that, Talcott said was: ‘If you are selling addictive drugs you are okay.”