Marketing & Branding
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Source : http://www.forbes.com
Activity:
1 comments
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last activity : 07 06 2010 20:18:04 +0000
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The 21st century is not for tidy minds.
WPP's firms compete intensely with one another, at everything from lobbying in Washington, D.C. to media research in Ho Chi Minh City.
From this chaos, however, emerges remarkably solid results. In 2007 WPP reported a pretax profit of $1.4 billion on revenue of $12.3 billion, up 8% in constant currencies.
The globe spends $700 billion a year on advertising, broadly defined to include market research and public relations but not manufacturers' rebates
Get below the hood of WPP and it is clear that Sorrell's creation is even more complex than it first appears. The creative firms at the well-run industry leader, Omnicom, all similarly compete with one another. WPP is different because its structure morphs, a corporate amoeba changing shape according to the needs of clients and the demands of the moment.
Unilever's account is handled, for example, by no fewer than 47 WPP firms, from GroupM (media buying advice and execution) to OgilvyOne Worldwide (digital marketing) to Burson-Marsteller (public relations).
One of the competitor praises by saying that it has changed the view of the industry.
But when it's time to pitch multinationals looking for economies of scale and help in global brand-building, Sorrell does a 180-degree turn and demands his independent firms come in for the kiss. In-house rivals suddenly turn collegial and pool their expertise and services for a knockout bid. Along with the normal compensation based on individual companies' results and WPP's overall performance, Sorrell awards $120,000 in stock to cross-company teams that "demonstrably enhance client service."
According to an analysis by industry tracker Recma, WPP is the biggest ad firm in greater China (36% of total billings), India (56%) and Thailand (39%). Asia-Pacific, the Middle East, Latin America and Africa currently account for 22% of WPP's revenue.
Here is one example of creating the brand.
According to an analysis by industry tracker Recma, WPP is the biggest ad firm in greater China (36% of total billings), India (56%) and Thailand (39%). Asia-Pacific, the Middle East, Latin America and Africa currently account for 22% of WPP's revenue
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