P&G's Pritchard: The agency business must change
Marc Pritchard, Chief Brand Officer at Procter & Gamble, the largest advertiser in the world, crawled into the belly of the agency beast at the 4A's (American Association of Advertising Agencies) Transformation 2017 Conference to call for sweeping changes in the way the advertising business operates.
The makeover, he said, is necessary to address a fundamental problem: Despite an investment of nearly $600 billion in advertising, "the growth rate of our collective industries is pretty anemic." And this outcome, Pritchard acknowledged, has placed strains on the relationship between clients and agencies....