A Advertising Media Agency Marketing Essay
I had chosen Ricky Teo (a.k.a C.E.Teo) from One-Touch Group, a advertising media agency. Ricky Teo is the CEO of the company. The interview section inspire me a lot in entrepreneurship and how a media agency work. (Please refer to appendix 1)
2.0 Background of Company
One-Touch Group was established in Year 2000 to meet the needs of the companies searching for a brand spectrum of media related services. With a strong media network background of newspaper industry, this valuable background has enabled One-Touch Group to have an extensive network of contacts of all the key people in the industry and 20 years of experience in advertising field, they create "ONE-STOP" advertising services from developing concepts and creative, innovate graphic designs, effective and strategy media planning, negotiations with media owners, implementation of media space bookings and buying to administration of media accounts. They capably handle client's branding and promotions from conception to actualization. Their philosophy is to provide efficiency, competitive, cost value services to increase client's brand awareness, market shares and maximizing the returns of client's investment.
2. 1 Organizational Chart
3.0 Products and Services
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As a "ONE STOP" service provider, they offer a comprehensive range of media services under the convenience of one roof from outdoor billboard and buntings to indoor banner and leaflets, conduct press conferences, organizing exclusive press interview and news publicity, certainly, negotiation affordable and efficient rates and packages with media owner at client's choice, budgets and benefits.
One-Touch Group will ensure the quality no matter their clients is large or small corporation. They provide the extra edge that will make the difference in their client's marketing campaigns. The loyalties of their clients that they have are the testimony of their commitment.
One-Touch Group as a "ONE-STOP" service provider providing the following services:
Offset/ Inkjet Printing
4.0 SWOT analysis
The strength of One-Touch is they are familiarity in Chinese language media. This is because the consistency of the exposure in advertising on Chinese media, such as China Pressand Sin Chew Daily. Besides that, they don't choose their clients. They feel that when a clientchose them to help in advertising, they have the responsibility in doing their best even though it is a small advertisement. According to the director Mr Teo, most of the big media agencies wouldn't want to accept and publish small advertisements, for example jobs and obituary adv,because they can't earn much.
Their main weakness is lack of manpower. Being a small company, they have limited manpower. Therefore, when they received last minute orders, the working atmosphere will be a little tense out in order to get the best space and service for their clients. In other words, it's difficult for them to handle big project if the timeline is short.
One-Touch have the opportunity to expand into a bigger company because they do not choose their clients and this builds a better relationship between them and clients. In media management, bonding between organization, media and client is very important because they are interdependent.
The threat for One-Touch is all the advertising media agencies. To them, every single agencies that help organizations to advertise are their competitors. Anyhow, director Mr. Teo did mentioned that the strongest competitor in the market is Mind Share, a media agency that received the "agency of the year" award in Malaysia.
5.0 What has made the business success?
Supply Chain Management
One-Touch has market person and runners team to run sales outdoor. When clients areinterested to advertise, they will make an order by filing in a form and get an approval stamp by their own company. After that, the media person will reserve a space on newspaper based on the client's requirements and type of advertisement. After receiving the space confirmation from the media, they will send the material to the media. For some client that do not have an advertisement, the agency could help them to produce an advertisement by their creative team.Material will be sent to the client for confirmation. If they approved the material, agency will send it to the media to published. Lastly, client will need to pay their fees to the agency after the advertisement have been publish.
People Management and Working environment
The working environment of One-Touch has the lesser people, therefore there is lesser conflicts between workers. In other words, One touch company is a small company, it is not same as the big company which has many staffs and complex organizations chart. According to director Mr. Teo, said that he always give freedom to his employees. If the employees have already completed their work, they could leave anytime. He states that he not really concern on how many hours the staff stay in the office, at least they had complete their task. Besides that, Mr.Teo said that he treat his staff like friends, so there are less gap and conflict between them. He gives good treatment to his staffs because he believes that trust and loyalty are very important between the directors and staffs. Furthermore, Mr. Teo willing to spend money to throw a party inside the office once in a while which can strengthen their relationship, and it can let the staffs relax their mind from the stressful workloads. This is because Mr Teo is an easy going person; he just wanted his staffs to be happy and motivated to work for him.
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Relationship with Client and Media
Basically, there are no guarantees that client will come back after the first cooperationbecause there are many new agencies in the market to corporate with them as well. Servicing is first things to consider to maintain the relationship with clients. With good service, people will remember the agency and get back to them in the future. Apart from that, they will also catch up with the regular clients by treating them a meal to create a stronger bond, then they won't be easily to choose other companies. Mr Teo will receive free goodies from the media because they want to create a better bond to achieve a "Win-Win situation". Mr Teo said that in every annual dinner, he will invite the media to join them and their dedicated employees tocelebrate together because "it is the reality in the working environment" by give and take.
6.0 Effect of Globalization
Challenges and Benefits
TheÂ result of new communications technology is media globalization, which cannot be stopped. It is as well the requirement and enabler for all other forms of globalization. Multi-national media is becoming more critical to world-wide industries and thus many people feel that they should enjoy the benefits of media globalization instead of fearing and undertaking to avoid the effects such as global communication which in an ironic manner admit encumbrance of free speech. (Hickman, 2007)
It has never been easier to communicate internationally. The media platforms has given us so much to appreciate as we can have video chats with our loved ones who are sitting miles away from us and moreover you are always kept up to date to the stock market of the cell phones. From our daily routines to our professional lives, it has not only improved our health but also saved us from harms by educating us online. You can have number of examples in the advancements in the compression technology and the transfers of CT scans via internet and instantly receive the second opinion from the doctor sitting far away. (Hickman, 2007)
Regardless of the benefits, there are also other literal results. Wealthy corporations have owned a major portion of all media whereas on the other hand the local media is being took back alive by aggregates. Free speech is endangered by these transnational corporations; they drown out the articulation of local media with profit-maximizing patterns. Media barons have the most to gain from globalization of media. (Hickman, 2007)
The products which maximize the profits have been produced by the multi-national media corporations and which in result are decreasing the cost of production. With the help of globalization it has become easy to shift output to low-pay, high-subjected areas of the world. Jobs which may generally have been executed locally are being shipped throughout the world and executed at less than half the cost. Big organizations are enhancing profit by reducing costs and dealing to an external audience. (Hickman, 2007)
According to Hickman (2007), benefits of media globalization are :
The benefits of media globalizationÂ are often seditious as it may make it difficult to see the consequences.
TheÂ completion is the open market has been increased as more media is becoming readily available to us than before. The increase in content diversity has been increased with the increase of the media vehicles. News stations along with other corporations have taken up the profit formulas.
Advertising is the main source of media and for that Coca-Cola memo survives denotative that media subject is regarded by the desires and politics of ad agency.
Media is aÂ singular "product" in that it determines the thinking of people and trust as well. It is also a product of culture that shapes culture.
The core of multi-national mediaÂ is the pursuit of profit and with journalistic quality plummets; there have been increases in advertising in media.
Our lives have been deeplyÂ affected by the profound impact of media globalization and it will continue to impact our lives the way we conduct.
7. 1 Appendix 1
- Director (CEO), Ricky Teo
7. 2 Appendix 2
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