1. MCOM 341<br />Week 4 Summary<br />AgencyrolesDevelop marketing & ad plansDevelop ads & promotionsPurchase ad space and time<br /> Types of Ad Agencies: <br />ReachFull-ServiceSpecialtyBoutiquesMedia BuyersInteractiveConsumerBusiness-to-Business (B2B)LocalNationalRegionalInternational<br />Examples of SuppliersArt studios &web designersPrinters &related specialistsFilm & videohousesResearchcompanies<br />How agencies are paid:<br />Media commissions<br />Markups<br />Fees / retainers<br />How agencies attract new clients: <br />Speculative presentations<br />Referrals<br />Soliciting new business<br />Community relations & networking<br />DEFINITIONS: <br />Advertising Agency: An independent organization of creative people and businesspeople who specialize in developing and preparing marketing and advertising plans, advertisements, and other promotional tools. Agencies also purchase advertising space and time in various media on behalf of different advertisers (clients) to find customers for their goods and services. - American Association of Advertising Agencies (AAAA)<br />Account executive: responsible both for managing all the agency's services for the benefit of the client and for representing the agency's point of view to the client. <br />Account planning: A hybrid discipline that bridges the gap between traditional research, account management, and creative direction whereby agency people represent the view of the consumer in order to better define and plan the client's advertising program.<br />Media planning: The process that directs advertising messages to the right people in the right place (media) at the right time.<br />A creative director leads a team made up of a copywriter and an art director who determine the verbal and visual elements of an ad campaign. <br />Production: The department in an advertising agency that is responsible for managing the steps that transform creative concepts into finished advertisements and collateral materials. Often work with suppliers to buy type, photos, illustrations, enlist broadcast directors, producers, etc.<br />The traffic department coordinates all ad production to ensure client and media deadlines are met. <br />In-house agency: Agency wholly owned by an advertiser and set up and staffed to do all the work of an independent full-service agency<br />