Consider the following excerpt regarding advertising agencies: The latest study on advertising agency performance from the Incorporated Society of British Advertisers found that agencies are failing to provide adequate service, to develop trusting relationships, be innovative, be efficient, control costs, and keep their promises. Agency staff are difficult to reach, planners are lack- ing when it comes to monitoring and evaluating advertising, creatives still do not listen to advertisers’ concerns or understand their target markets, and production departments fail to deliver value for money or meet budgets. On a grander scale, the majority of advertisers do not feel that their agencies provide co Given the problems plaguing advertising agencies, discuss how an integrated cost management system could help individual ad agencies become more competitive.
Consider the following excerpt regarding advertising agencies: The latest study on advertising agency performance from the Incorporated Society of British Advertisers found that agencies are failing to provide adequate service, to develop trusting relationships, be innovative, be efficient, control costs, and keep their promises. Agency staff are difficult to reach, planners are lack-
ing when it comes to monitoring and evaluating advertising, creatives still do
not listen to advertisers’ concerns or understand their target markets, and production
departments fail to deliver value for money or meet budgets. On a
grander scale, the majority of advertisers do not feel that their agencies provide
co Given the problems plaguing advertising agencies, discuss how an integrated cost management system could help individual ad agencies become more competitive.
The Integrated Cost Management Approach concentrates on the integration of cost management techniques that can lead to higher levels of cost reduction and efficient overall performance. Integrated Cost Management can facilitate a steady reduction in costs all the way to discontinuance.
Integrated Cost Management is every business’s prescription for lower costs and higher profits. It is the 21st business concept to achieving Cost Management efficiency.
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