Why is it that the United States’ advertising as a proportion of marketing services is at its lowest point since 1977, maybe even lower than since the Second World War?
Sir Martin Sorrell, CEO of WPP Group Plc, was interviewed as part of the Reuters Global Technology, Media and Telecoms Summit held this week around the globe. He talked to Reuters reporter Kate Holton in London, with groups of reporters calling in from Paris and New York to ask questions. Here are extended excerpts from a longer interview:
Sir Martin Sorrell of WPP Group presides over the world’s second largest advertising services company. Business leaders the world over have consulted him on his views on how global economic trends will unfold. Many credit him with being far-sighted on the emergence of India and China, on the importance of the Internet and new media.
Today, at the Reuters Global Technology Media and Telecoms Summit, he suggested that corporations consider a complete about-face to the basic marketing idea entrenched for decades in the U.S. and Europe.