INTRODUCTION TO ADVERTISING AGENCY

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DEFINITION OF AN ADVERTISING AGENCY

It is the core of advertising profession and industry. An advertising agency is:

a)  An independent business organization

b)  Composed of creative and business people

c)  Who develop, prepare and place advertising on advertising media

d)  For sellers seeking to find customers for their goods and services

-American Advertising Agency Association (AAA) There  are  an  estimated  200  advertising  agencies  in  India  accredited  to  INS

(Indian Newspaper Society- to be eligible for 15 percent commission) and 8000 odd agencies which are unregistered. Together they serve 6000 clients in India.

 

Four Key Functions of an Ad agency

 

ACCOUNT  MANAGEMENT

 

Account Management is  the pivot on  which  the entire agency’s  work revolves. Also  called  as  Client  Servicing  or  suits,  it  is  the  agency’s  big  window  to  the outside  world. The ‘suits’ are the agency’s  face to the client. They interact with the clients, take briefs and understand the marketing issues involved.

Internally, they brief the creative and  media  on  the jobs  and  co-ordinate the entire ‘work processes ‘inside the agency. They evaluate the ad campaign and media plan internally and often present these to the clients.

 

ACCOUNT  PLANNING

 

It is  the  second  core  function  in  the  agency.  It  is  also  referred  to  as  ‘strategic planning’.  However,  all  agencies  do  not  necessarily  have  a  separate  unit  for planning.  In  some  agencies  account  management  takes  care  of  the  strategic planning involved in their respective brands. Whether as a separate unit or not, planning  is  the  research  face  of  the  agency.  However  they  rarely  conduct research themselves, though sometimes they may co-ordinate it through research agencies if required.

 

CREATIVES

 

Creative form the third core function of the agency. They are also at the core of the   production  process  of  the  agency  as  they  are  the  ones  who  create  ads. Generally,  the copywriters  write the headline and copy and the art directors do the   visualizations   and  layouts.  But  often  they  ideate  and  work  together.  A headline   may  come  from  the  art  person  and visualizations  from  the  writer. Creatives are the agencies lifeline the one who can make or break the agency.

 

 

Media forms the fourth and the last core function of an agency. With increased media  fragmentations, media planning and media buying have emerged as two specialized  functions  within  media.  Sometimes  the  planners  may  also  extend expertise to the both.

Media    planning     involves     a   lot    of    number     crunching     and   good

‘quantitative’  abilities  are  a  critical  requirement.  Media  Buyers  not  only  look other   media   relations   and   negotiate   rates   but   also   supervise   the   media operational  word  like  sending  release  order  and  ad  material  to  the  respective media. They also monitor releases.

 

THE WORLD’S TOP TEN ADVERTISING AGENCIES

 

WPP GROUP, LONDON (18485.3 BILLION)

INTERPUBLIC GROUP, NEW YORK ( US $ 13,967 BILLION)

OMNICOM GROUP, NEW YORK (US $ 13,839 BILLION) DENTSU, TOKYO (US $10846.3 BILLION)

SAATCHI    &     SAATCHI   COMPETITORS     ,    LONDON(US     $    10809

BILLION)

YOUNG & RUBICAM, NEW YORK( US $ 7559 BILLION)                   EURO RSCG, FRANCE (US $ 6508 BILLION)

GREY ADVERTISING , NEW YORK( US $ 5171 BILLION) HAKUHODO, TOKYO (US $ 4938 BILLION)

FOOTE, CONE AND BELDING (FCB),CHICAGO ( US $5336 BILLION) SOURCE: THE ASIAN AGE

 

INDIA’S TOP 5 ADVERTISING AGENCIES

O & M, BANGLORE (RS.2500 CRORE) JWT, MUMBAI (RS 1800 CRORE)

LOWE LINTAS & PARTNERS, MUMBAI( RS 1500 CRORE)

MUDRA, DDB NEEDHAM, AHMEDABAD (RS1200 CRORE)

FCB ULKA, NEW DELHI (RS.800 CRORE)

 

SOURCE: BRAND  EQUITY,  ECONOMICS TIMES

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