Summary of The Future of Advertising

New Media, New Clients, New Consumers in the Post-Television Age

McGraw-Hill, more...

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The Future of Advertising book summary
Ad agencies are gripped by consolidation, new media and boutique competitors. Is the future looking up?

Rating

6 Overall

5 Applicability

7 Innovation

7 Style

Recommendation

Once considered a glamorous, creative and positive influence on American popular culture, the advertising business has changed so dramatically it is almost unrecognizable today. Veteran journalist Joe Cappo uses a personal approach and an historical perspective to explain the problems advertising is facing. Two decades ago, some 20 major agencies, all independent and competing against each other, developed innovative, memorable campaigns for a variety of consumer products. But those days are over. Today, four global marketing communications holding companies control 55% of marketing expenditures. This consolidation curtailed creativity, which has resulted in agencies that produce very few memorable ads or integrated marketing efforts despite unprecedented resources. Refreshingly, Cappo does not temper his industry critique in this slightly disjointed, but well-written explanation, which is buttressed by short articles from other industry experts. Cappo sounds a wake-up call for agencies to reform themselves or lose out to more effective marketing approaches from upstart independent agencies or product manufacturers. getAbstract.com suggests that anyone responsible for advertising budgets or for developing marketing campaigns will benefit from Cappo’s view of the past - and possible future - of advertising.

In this summary, you will learn

  • What changes the advertising industry has faced and what it must do to regain a dominant position
  • How new direct marketing strategies combined with more traditional approaches can revitalize agency-client relationships
 

Summary

Advertising’s Global TransformationToday, advertising is dominated by four global holding companies that account for about 55% of worldwide advertising and marketing expenditures. This global transformation occurred as the holding companies acquired the world’s largest ad agencies, which were often ...
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About the Author

Joe Cappo is senior vice president for Crain Communications, Inc., and the former publisher of Advertising Age magazine. He also served as the world president of the International Advertising Association.


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