International: Pfizer launches major agency review, denies consolidation
Citing a "very public transformation" in which it and the health-care industry is "looking to adapt the way we do our business," pharmaceutical giant Pfizer, which spent some $1.2 billion in marketing last year, is undertaking a major agency review that will encompass creative, PR, digital and possibly even more disciplines.
Citing a "very public transformation" in which it and the health-care industry is "looking to adapt the way we do our business," pharmaceutical giant Pfizer, which spent some $1.2 billion in marketing last year, is undertaking a major agency review that will encompass creative, PR, digital and possibly even more disciplines.
Ray Kerins, VP-worldwide communications at Pfizer, stressed to Ad Age that this is not the first step of an agency consolidation process on Pfizer's part -- despite persistent talk in marketing circles that the drug titan is planning just that.
Seeking understanding
"The intent is not to consolidate," Mr. Kerins said. "The intent is to understand our agency partners better. This is not a full blanket sweep of all the agencies."
But to hear him explain it further, it certainly sounds like Pfizer is looking to trim some of the fat and whittle down the number of agencies it works with. "We were very clear with [Wall] Street and the health-care industry that we are looking to adapt the way we do our business," he said. "So as we do that we are looking at every division from communications to finance, from manufacturing to marketing. [This review] is a very natural extension of that transformation. We are looking at every corner of the business to see how we can improve."
He added: "While we're very pleased with the partners we have, we're going to take a look and make sure we have the right ones in place, and we'll take it from there." According to Advertising Age's 100 Leading National Advertisers report, Pfizer was the county's 28th largest advertiser last year, spending $751.7 million on measured media and $501.2 million on unmeasured media.
While Mr. Kerins was not specific about its "transformation," it's clear that direct-to-consumer drug marketers are under keen pressure from critics and lawmakers who charge their ads cause consumers to demand unnecessary drugs from physicians. There has been discussion among lawmakers regarding a ban on new-drug ads for two years; just last week Pfizer, among other drugmakers, came out in support of a less-dire six-month ban.
Lipitor campaign flops
Moreover, Pfizer earlier this year pulled ads for Lipitor after it came to light that its spokesman, Dr. Robert Jarvik, did not actually take the drug until after he agreed to appear in the commercials, which purported to show him rowing but actually used a stunt double.
Many observers believe that as a result of the increased scrutiny, drugmakers like Pfizer are beginning to put greater emphasis on direct and internet marketing, more-targeted venues than print and TV.
Health care is "an industry that's highly regulated and probably gets more daily editorial coverage than any other industry," Mr. Kerins said. "So the ability for us to continuously improve ourselves is something that we are always looking to do. That goes for any industry but ours in particular."
When asked if there was a chance Pfizer would end its relationship with some agency partners as a result of the review, Mr. Kerins said that was "total speculation." But a number of people in the industry, including some of the company's agency partners, believe Pfizer is looking to consolidate agencies as a way to streamline and cut costs any way it can.
Executives close to the situation said the review is being led by procurement, but Mr. Kerins would neither confirm nor deny that. "It's being run by the appropriate people inside Pfizer, and the appropriate people are at the table to make the decision," he said. "I won't say any one group is leading the charge, but it is being run by those who have the best knowledge to make the right decision on behalf of the company, and that's the way it should be."
Mr. Kerins said the review started with the issuance of request for information to the company's creative agencies of record. He would not disclose which agencies received the request. Some of its agency partners on the advertising side include McCann Erickson and Kaplan Thaler Group (the latter was behind the Jarvik ads).
Digital, PR agencies may receive RFIs
"We do anticipate that we will be sending RFIs to other professional consumer agencies as well, including digital and PR agencies," Mr. Kerins said. "But we haven't done that at this moment. Right now we have only sent RFIs to creative firms."Edelman and Hill & Knowlton handle portions of Pfizer's PR business. Digitas does parts of its digital work and Unit 7 manages pieces of its relationship marketing.
Someone with knowledge of the RFI said agencies were asked to provide very general information including agency size, number of employees and capabilities relating to a variety of disease categories.
Mr. Kerins said there hasn't been any discussion about issuing RFIs to agencies Pfizer doesn't currently have a relationship with. "But as you can imagine, we are always looking for the best and the brightest," he added.
Source: AdAge.com
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
TOP STORIES
E4M Our strategy is to target younger audiences through Sports: Rajiv Dubey, Dabur
The Head of Media at Dabur India spoke exclusively to exchange4media on the World Cup, associating with Indian Idol, the company’s digital spending and much more
With quirky campaigns, memes and moment marketing, timed with the ongoing World Cup and particularly the India-Pakistan matches, Dabur India has got considerable consumer attention for its popular brands – Red Paste, Cool King Hair Oil, Chyawanprash, Dabur Vita and the recently launched Bae Fresh Gel toothpaste.
The 140-year-old company is going big on key sporting events, World Television Premiere (WTP) movies and reality shows. It is now gearing up to become the title sponsor of popular talent show ‘Indian Idol’ on Sony TV for the first time, shared Rajiv Dubey, who leads the media strategy at Dabur.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
ShareSwapan Seth's new book 'COOL' is out
The book is a reflection of the author's 'eclectic taste across categories'
Advertising professional and art collector Swapan Seth has announced the launch of his new book COOL. The book is described as "a ready reckoner to the hip and the happening, of the known and the very unknown."
The book is a reflection of the author's "eclectic taste across categories: from boltholes to exotic hideaways."
COOL has been published by Simon & Schuster India and is available on Amazon.
Seth is an ad veteran with a long and illustrious career in the industry. He became the youngest-ever Creative Director at Clarion at age 24. He was VP at 26 at Trikaya Grey. Two years later, he started his agency Equus.
He writes for publications such as The Economic Times, Hindustan Times and India Today. This is his second book and he has previously published THIS IS ALL I HAVE TO SAY.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
Disney Star signs 9 sponsors for Asia Cup PAK
Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up come on board
e4m Staff Disney Star has signed nine broadcast and digital streaming sponsors for the upcoming Asia Cup.
Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up have come on board for the upcoming tournament.
As reported earlier by exchange4media, Disney Star has sought Rs 26 crore for the co-presenting sponsorship on TV and Rs 30 crore for Disney+ Hotstar.
According to industry sources, the associate sponsorship on Star Sports has been priced at Rs 19.66 crore, whereas for the ‘powered by’ sponsorship on Disney+ Hotstar, the broadcaster is seeking Rs 18 crore.
As per the information available with exchange4media, Disney+ Hotstar has three sponsorship tiers-- co-presenting (Rs 30 crore), powered by (Rs 18 crore) and associate sponsorship (Rs 12 crore). The broadcaster is offering an estimated reach of 120-140 million for co-presenting sponsors, 90-100 million for powered by and 60-70 million for associate sponsorship.
A spot buy for 10 seconds has been priced at Rs 25 lakh for the India vs Pakistan matches, while for the non-India matches, the ad rate for 10 second is Rs 2.3 lakh. The India matches plus the final for ODIs has been priced at Rs 17 lakh per 10 seconds.
Asia Cup is scheduled to be held from 30 August, 2023, to September 17, 2023.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
Sorted 360 wins creative & social media mandate of Reliance Mall
The agency will manage offline and online campaigns for Reliance Mall
Sorted 360, an integrated creative and social media agency, has won the mandate to providing brand solutions for Reliance Malls across India.
“Sorted 360 is set to enhance Reliance Malls' market presence with their unparalleled creative prowess and strategic thinking,” read a press release.
“Sorted 360's commitment to pushing the boundaries of creative communication aligns perfectly with Reliance Malls' ethos. With a pan-India presence spanning across 19 cities and growing, Reliance Malls has consistently captivated customers by offering an array of Reliance brands and third-party fashion & lifestyle brands. The mall has established an unparalleled connection with its patrons through superior quality, a remarkable value proposition, and an unmatched shopping experience,” it read further.
"We are thrilled to welcome Sorted 360 as our trusted partner in advancing our brand presence across the nation," said the Head of Marketing at Relaice Malls. "Their proven expertise in retail, shopping center management, and innovative creative strategies make them the perfect fit for our vision."
"Partnering with Reliance Malls is a testament to our commitment to shaping extraordinary brand experiences," remarked Prerana Anatharam, Co-founder of Sorted 360. "We are excited to leverage our strategic and creative acumen to further elevate Reliance Malls as the epitome of convenience, choice, and excellence."
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
test
test
test
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
test
test
test
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
KlugKlug onboards Hemang Mehta as Country Manager for Indias
Mehta was most recently Head of Agency Relationships at Network 18 Media & Investments
KlugKlug has appointed Hemang Mehta as its Country Manager for India.
Mehta will play a pivotal role in driving KlugKlug's growth and expansion within the Indian market and be responsible for Sales & GTM Strategy
Prior to that, he has also represented organisations like Exponential (now VDX.tv), India Today Digital and Rediff.com. His expertise spans various domains including digital media sales, mobile marketing, media planning, and buying, social media marketing, and more.
Hemang Mehta expressed his enthusiasm about joining KlugKlug, saying, "I am thrilled to be a part of KlugKlug, a forward-thinking platform that is reshaping the influencer marketing landscape. As much as I look forward to collaborating with the exuberant team at KlugKlug, I am super excited to interact with the brands to deliver powerful data-backed Influencer solutions that will guarantee business outcomes."
Commenting on the appointment, Kalyan Kumar, Co-Founder and CEO of KlugKlug, stated, "We are excited to welcome Hemang Mehta to our team as the Country Manager for India. His extensive experience in digital media sales and marketing will be instrumental in driving our efforts to provide influencer marketing solutions to our clients. We believe Hemang's leadership will be key in scaling our operations and expanding our reach within the Indian market."
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp