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<img src=http://www.exchange4media.com/e4m/images1/new2.gif align=left border=0>IOCL empanels 4 agencies for creative duties; Madison and Lodestar Universal to handle media

22-April-2008
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<img src=http://www.exchange4media.com/e4m/images1/new2.gif align=left border=0>IOCL empanels 4 agencies for creative duties; Madison and Lodestar Universal to handle media

Indian Oil Corporation has empanelled four agencies – DraftFCB Ulka, Rediffusion DYR, McCann Erickson and Grey Worldwide – for its creative duties following a multi-agency pitch. Meanwhile, Madison and Lodestar Universal would be handling the media duties. Industry sources have pegged the account size at around Rs 120 crore.

N Srikumar, Executive Director, Corporate Communications, Branding and Planning, IOCL, has confirmed the developments. Though he refused to divulge details about the ad spends, he said that the ad spends had been divided into three parts – ATL. BTL and sponsorship programmes.

Commenting on the allotment of the agencies, Srikumar said, “The reason for appointing a mass of empanelled agencies is to take our various products to the next level of brand visibility. Due to the larger product basket, we needed to have more focus on our brands that have grown and hence, the decision to have two media agencies and four creative agencies on board.”

However, when queried on which agencies would handle which product or brand, Srikumar replied that they were still in talks and the decision would be taken soon.

IOCL had called for creative and media pitches in July 2007. Among the agencies that had taken part in the creative pitch were DraftFCB Ulka, Rediffusion DYR, McCann Erickson, Grey Worldwide and RK Swamy BBDO. The incumbent agencies were Rediffusion DYR and Grey Worldwide, which managed to retain the account.

TME (The Media Edge, Rediffusion’s media entity) was the incumbent media AoR for IOCL. The media pitch involved seven agencies, including Madison and Lodestar Universal, which bagged the media mandate for IOCL.

Indian Oil Corporation was formed in 1964 through the merger of the Indian Oil Company (established in 1959) and Indian Refineries (established in 1958). Its brands include Servo, Indane LPG, Indian Oil Aviation, Autogas, Xtra Premium, Xtra Mile Super Diesel, Xtra Power and Xtra Care.

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