Magazine article Marketing

Editor's Comment: Leahy's Risks Made His Business

Magazine article Marketing

Editor's Comment: Leahy's Risks Made His Business

Article excerpt

'The winter of our discontent', the Bard's oft-used phrase, may be brought back into service as the economy stutters toward Christmas.

Consumers are feeling the chill, and cheer is in short supply as rounds of cuts and redundancies continue to hit the UK.

Lighting and consumer electronics group Philips announced on Monday that it is cutting 4500 jobs. This one example may reflect the problems of a single corporation more than the general economy, but that's still another host of families dreading the next few months.

Part of the problem is the rising costs of basic supplies and services, such as petrol and heating for the home. Philip Clarke, group chief executive of Tesco, makes the point that its customers 'spent pounds 750m more putting fuel in their petrol tanks' during the first two quarters of 2011; as he says, 'a very scary statistic' (see page 15) Meanwhile, domestic energy bills make for gloomy headlines.

Against this background, what are marketers to do? Inspiration comes in the form of Clarke's predecessor at Tesco, Sir Terry Leahy and his speech to The Marketing Society (see page 14). …

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