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NOV
2008
Marketers Increasingly Bypass Traditional Business Model
Advertising Age,
November 3, 2008 —
When Procter & Gamble Co. brought hundreds of suppliers to Cincinnati earlier this month for its first "supplier summit," among them were 40 media companies. The message from Chairman-CEO A.G. Lafley, according to one attendee: "We want your ideas, and if we use them, we'll give you a piece of the action."
It should be no surprise that media companies are among the partners P&G is looking to tap for ideas that range from new products to new ways of marketing them. Though it may be the largest, it's far from the only marketer soliciting marketing advice from media companies these days.
APR
2008
Restructures to Build IP, Create Branded Content and Take On McKinsey
Advertising Age,
April 17, 2008 —
WPP's MindShare has launched a wholesale restructuring of its business — effectively splitting the agency into four distinct units — designed to move the shop beyond planning and buying, and create new revenue streams from content and intellectual property creation and McKinsey-style business consulting.
The global reorganization, the first in MindShare's 11-year history, comes as at a time when commoditization of media buying is a real threat, as procurement executives and the requirement for transparency in terms of costs have enabled clients to squeeze media agencies' margins to such an extent that many are often left making only a couple of percentage points on marketers' media expenditures — media expenditures that are themselves often flat, or... continue reading
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