By Anuradha Sengupta, CNBC-TV18

Business building versus award winning advertising, 360 degree ideas and networked worlds; that is just some of the stuff the World Federation of Advertisers was throwing up today. The goal was to engage effectively with consumers. The `R' word that the US is grappling with, didn't make an appearance.

All the talk about recession in the US and the impact that its going to have on the global economy doesn't seem to have impacted some of the world's biggest advertisers yet.

P&G didn't commit to any figures. But they did say that they are committed to the consumer. That can be interpreted to mean that they are committed to spending on marketing.  

“A recession also provides an area of opportunity. If you are really focused on what you stand for and on how to embrace consumers, this is when you can win all in the recession. Advertisers who know their consumers will do well,” said Bernhard Glock, VP- Global Media and Communications, P&G.

The World Federation of Advertisers has a 50 strong delegate team here from different parts of the country. All of them are extremely bullish on the India growth story.

“We are making tremendous investments in this country, in terms of making sure that we have a retail infrastructure, so that we are not just addressing urban but also villages in India. Its one thing to sell somebody a phone and it’s another thing to make sure you have a care system in place, so if something goes wrong they can come back and ensure that their problems are solved,” said Keith Pardy, Senior VP- Strategic Marketing, Nokia.

The market has always had new words to describe the same thing. So, the takeaway today is call your consumer partner and see where your brand goes.