In order to promote cross-cultural marketing, five big
business firms, namely American Association of Advertising
Agencies; Draftfcb, part of the
Interpublic Group of Companies
); two divisions of
), Ogilvy & Mather Worldwide and the Millward Brown research
company, collaborated to form Cross Cultural Marketing and
Cross-cultural marketing aims to target the general market,
which currently has a diverse demographic mix. Rather than
targeting any individual sector or industry exclusively, the new
organization will follow a "total market approach". The new
approach aims to focus on the market as a whole for revenue
generation. Moreover, the total approach will focus on hiring
people from diverse backgrounds to understand the multiple
outlooks and interests of consumers.
The new association will be officially introduced at the
forthcoming Total Market Industry Conference to be held at Ogilvy
& Mather headquarters on Sep 9 and 10. The spokespersons of
the association will address key issues like demographic trends,
ways to engage new kinds of consumers, technological trends and
strategies to attract and retain skilled employees.
The new association is likely to benefit the overall
advertising market, including companies like WPP.
WPP, the parent company of Ogilvy & Matter, offers a host
of advertising and marketing services including advertising and
media investment management; consumer insight; public relations
and public affairs; direct and digital promotion as well as
relationship marketing. The primary focus of the company is to
grow its revenues and gross margin at a faster rate than the
industry average. Going forward, WPP expects to achieve a leading
position in emerging markets and new media as well as depth in
WPP currently carries a Zacks Rank #2 (Buy). Another stock in
the industry worth considering is
Information Services Group, Inc.
), which also has a Zacks Rank #2.
INFORMATION SVC (III): Free Stock Analysis
INTERPUBLIC GRP (IPG): Free Stock Analysis
PEPSICO INC (PEP): Free Stock Analysis Report
WPP PLC (WPPGY): Free Stock Analysis Report
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