Section 1
The industry service sector is one that is defined by the demands in the economy for enhanced opportunities. A growing practice that is offered is marketing, which includes the development and implementation of advertisements for businesses to attract customers to a specific product. The association with marketing is one that is based not only on service professionals who are able to provide insight into reaching potential customers. The current trends have allowed marketing to expand into consulting and independent services that are provided to businesses. Public relations, promotions and sales representatives are some of the several areas that provide insight into the industry. The movement into technology has also changed job prospects to offer computer related marketing and advertising for products. The growth of this specific organizational sector is expected to rise by 13% within the next 10 years (BLS, 1, 2010).
1.1 The marketing organizations that are currently available include firms that have grown between 8-11.5% in the past year. The following table shows the top 10 groups and the increase and changes within the corporation.
| Organization |
Department |
Contact Person |
Outcome of App. |
| Omnicom |
Marketing |
Randall Weisenburger |
On hold |
| WPP |
Public relations |
Dan Haliwell |
Rejected |
| Interpublic group |
Corporate Communications |
Virginia Devlin |
On hold |
| Publicis Groupe |
Corporate Communications |
Maurice Levy |
Rejected |
| Dentsu |
Sales and Business Development |
n/a |
On hold |
| Havas |
Regional HQ |
n/a |
Rejected |
| Aegis Group |
Media relations |
n/a |
n/a |
| Hakuhodo DY |
HR Management |
Jennifer Jinji |
Interview phase 1 |
| aQuantitative |
R&D |
n/a |
n/a |
| Asatsu |
Print Advertising |
Marine Alcala |
On hold |
| MDC Partners |
Marketing Communications |
David Granato |
Rejected |
Each of these are known as global representatives of marketing and show substantial increase within the past year while carrying a diverse portfolio related to marketing initiatives for various corporations (Adage, 1, 2008). The reports available come from several resources, specifically with reference to independent websites that show the portfolio of each of the firms as well as revenue increase within the past year.
The concepts which apply to these marketing firms also have different advertisements that are associated with the experience and success of the companies. These are based on the several brand images and branches that each of the groups carries. These are noted in the below examples:
Omnicom
(Branch of Omnicom. Retrieved from: www.omnicomgroup.com).
WPP
(Branch of WPP. Retrieved from: www.wildtangent.com).
Interpublic Group
(Retrieved from www.interpublic.com).
Publicis Groupe
(Retrieved from www.publicisgroupe.com).
Dentsu
(Bright Cove Affiliate Advertisement. Retrieved from: www.brightcove.com).
Havas
(Retrieved from: www.havas.com)
Aegis
Consumer led – digitally ahead
Aegis Media brings together some of the worlds leading brands in
marketing services with a shared vision to create the communications
group of the future.
(Retrieved from www.aemedia.com)
Hakuhodo DY
(Retrieved from www.hakuhodo.jp).
Asatsu
(Retrieved from: www.88db.com)
MDC Partners
(Retrieved from Linked In)
1. 2 The industrial experience that will contribute to the management report is based on my interest in the field of marketing and the close associations I have had in terms of management of businesses. Educational experience that is related to this is associated with an understanding of business management and how this interlinks to marketing. The analysis will be presented with an understanding of the internal organization of the marketing groups as well as how they are continuing to build in diverse ways to ensure that there is continuous growth within the corporation.
Section 2
The aims of the management report will be to define how the marketing services are incorporated through the top firms. An analysis of the internal environment as well as an understanding of how the firms are building relationships to clients through the service sector will contribute to the overall report.
2.1 The objectives include:
Define what is making the firms the top in the marketing industry
How is the internal environment organized to assist with change management
How is the internal environment able to provide consistency in services
How do customers interact and build relationships with the marketing industry leaders
The target of the management report will be to define a deeper understanding of how the organization is able to create a deeper association in the internal and external environment. Marketing initiatives, responses from customers and an analysis of the internal environment will help to target the specific steps that the firms are taking for expected growth.
2.2 The aims, objectives and targets for the organization will assist me as a learner by creating a deeper understanding of how the different marketing organizations are building success. The main component will be based on understanding the concept of total quality management, which redefines the way that I look at organizations. Understanding how top companies are able to create an organization which continues to grow and prosper is one that can help me with my own management and objectives.
Section 3
To evaluate the progress of the aims and objectives, there will need to be a progression of results from different sources. The first step to this is to identify the business model that is used in the internal environment and how it affects different businesses. The model that is used with entrepreneurs and within the marketing field should be organized with the nature of the marketing organization, structure used and the evolution of the firm from the initial stages. Looking at the history, foundation of the firms and how it has resulted in progression can then define what positive elements are associated with the business. The activities will then help to evaluate and monitor the businesses growth (Morris et al, 726, 2005). The monitoring of the internal structure will be followed by evaluating the external environment. Stakeholders, consumers and responses will be considered for this step. This will be followed with an evaluation of the target market, specifically with recognition of whether international marketing and changes in the business environment are positively or negatively impacting the businesses. This will be monitored by evaluating the overall results, growth and weaknesses of the corporation (Cavusgil, et al, 1, 2004).
3.1 To further monitor and evaluate the progress of the business, the need to have sustainable development as a main consideration will be looked into. Sustainable development metrics include monitoring the overall growth of the company through yearly profit and loss and revenue, stakeholder agreements and the demands from consumers (Hussey et al, 1, 2001). The models can be furthered with a SWOT analysis, which incorporates the strength, weakness, opportunities and threats that are a part of the corporation. This will help to analyze both the internal and external environment while creating a model that defines how dynamic the corporations are. By incorporating this component into the business analysis, there will be the ability to carry a deeper evaluation of the way in which the company has grown as well as what it can do to continue with future growth (Perrin, Godart, 63, 2004).
3.2 The progress with the original aims and objectives is one that is continuing to be achieved through the different models. However, each of these are expanded on with the models, specifically because each integrates a different component to the model, analysis and the way in which each creates a specific type of activity. As the models are incorporated with the firms, there is the ability to show more types of corporate activity and how this relates to the success and failure of the business through both the internal and external organization.
Section 4
The chosen group for the management analysis was Omnicom Group, the number one marketing firm on the globe. This is a global advertising and communications group that works with branded networks, creative talent and communication to assist businesses in achieving their main goals. The corporation is divided into three main brands, including BBDO Worldwide, DDB Worldwide and TBWA Worldwide. These include a division into advertising agencies and a media group specifically for communication. The structure is overlooked by a board of directors that is a part of the corporation. This is furthered with group officers, each divided by the main companies, financial needs and the management over advertising and communication needs (Omnicom, 1, 2010).
The current strategy of the Omnicom Group has been given to each of the officers and manager to help with continuous growth and global recognition. This includes diversifying the market, working with community and focusing on policies and corporate governance. The Omnicom Group has built stakeholder recognition and growth not only through marketing trends but also by focusing on the global sustainability, business ethics and ability to give back to the community as a core component of the group. This strategy is combined with creativity and alternatives that are offered through members of the Omnicom group management to help continue to build a broader sense of diversity and to have a higher impact on communities (Omnicom, 1, 2010).
The financial components of the Omnicom Group were a total of $793 million with earnings per share at $2.53. This was divided between brand advertising at 44% and marketing services at 56%. The United States took 53% of the market share and the rest of the world held 47% of the demand. The increase on a quarterly basis is ranging at 4.2% with the division being between world and United States increase. The world increase has moved to 5.9% and the domestic revenue increased by 7.4%. This has also led to an increase in spending, with 2009 having net interest expense at 21.9% and 2010 spending at 23.7% (Omnicom, 1, 2010). This shows that the overall increase of the company is moving forward both domestically and internationally. The rise in expenses is one that accounts for new investments and prospects for growth.
The strengths of Omnicom Group come from two factors. The first is the presentation of ethics, community responsibility and giving back as a corporation. This attracts customers and works with current trends in offering more to the community. This attracts stakeholders and customers with the idea of investing specifically to assist with ethical programs. The second strength is from the focus on both global and domestic products. The group has initiated this through three main companies that are divided specifically for domestic and international affairs. This is furthered with the strength of having three main holdings that offer different types of services. The division of services into marketing services and brand marketing help to create a stronger market. This is further divided into various types of communication, such as media. By creating the several branches of services, the corporation is able to easily expand while gaining more revenue from the consumers and stakeholders.
The weaknesses of the Omnicom Group are based on the gaps that are a part of the communication network which is built. Omnicom Group focuses on global networks and creative talent needed for an agency. This is combined with services such as brand building, national advertising agencies, media services, CRM, public relations and specialty communications. The focus in each of these, as stated by Omnicom Group, is based on traditional methods of advertising (Omnicom, 1, 2010). The services and the brand building, while still needed for several corporations, are not consistent with the needed trends for marketing and advertising. The use of technology was one of the noted components that are changing advertising. However, Omnicom uses this as a secondary trait, which is one of the main weaknesses of the company.
The opportunities of Omnicom Group come from the strong basis it has in marketing and advertising. The continuous growth in revenue and the demands that are noted on a global basis can provide the company with a new focus for building a different focus for the company. By diversifying the portfolio of services, it will become easier to combine the trends and needs of the corporation with services and brands that are a part of the group. This can be incorporated because of the division of the internal environment, which consists of several divisions in the company. Each can begin to work toward more innovative measures that provide new opportunities within the market.
The threats that are associated with this are from other marketing groups that are also in demand and which are incorporating newer trends in their firm. The growth of these new trends and technology will continue to grow. Unless Omnicom Group can diversify the portfolio to more innovative measures and trends, there is a chance that competitors will not stay as the best international network brand that is currently in the market. To overcome these threats, Omnicom Group will need to incorporate new measures of innovation with technology and alternative means of advertising.
The opportunities available through Omnicom Group have allowed them to remain the top marketing firm on an international basis. The strong ethical background, focus on community and the diversity of products and services have allowed them to remain a top marketing corporation. However, the newer techniques of technology and marketing services are not incorporated into Omnicom Group which may change the demands as a part of the company. To alter the corporation so it continues to grow, more innovative measures will be needed to change the growth and opportunities of the corporation.
References
Adage. 2008. “Top 25 Marketing Organizations.” Retrieved from: http://www.flickr.com/photos/seeminglee/2166646905/#/.
BLS. 2010. “Advertising, Marketing, Promotions, Public Relations, and Sales Managers.” Retrieved from: http://www.bls.gov/oco/ocos020.htm.
Cavusgil, Tamer, Seyda Deligonul, Attila Yaprak. 2005. “International Marketing as a Field of Study: A Critical Assessment of Earlier Development and a Look Forward.” American Marketing Association (13), (4).
Hussey, Dennis, Patrick Kirsop, Ronald Meissen. 2001. “Global Reporting Initiative Guidelines: An Evaluation of Sustainable Development Metrics for Industry.” Environmental Quality Management (11), (1).
Morris, Michael, Minet Schindehutte, Jeffrey Allen. 2005. “The Entrepreneur’s Business Model: Toward a Unified Perspective.” Journal of Business Research (58), (6).
Omnicom. 2010. Omnicom Group. Retrieved from:ings. http://www.omnicomgroup.com/InvestorRelations/QuarterlyEarn
Perrin, Olivier, Claude Godart. 2004. “A Model to Support Collaborative Work in Virtual Enterprises.” Data and Knowledge Engineering (50), (1).