On the trail of a runaway success in the Capital and then in the IT hub of Bangalore, the exchange4media Conclave 2004 reached the financial nerve-centre of Mumbai on May 7. And, a galaxy of luminaries from the advertising and media world herded to Taj Landsend celebrating the concluding chapter of the assembly.
Meeting the stature of the event, veteran media professional Sushil Pandit, Executive Director, exchange4media, invited none other than the illustrious ad-man Ranjan Kapoor, Country Manager, WPP to set the ball rolling with an august inauguration.
While enjoying the twilight zone and looking at the industry in retrospect, Kapoor realised that advertising remained the same old business it used to be 38 years back, when he had stepped into the profession. "In the ad world, reality is yet seemed as perception and perception as reality. Business was being conducted in the same old way, the only difference being the speed at which things happen – which is mainly due to the progress in technology. What one witnesses these days is perception becoming reality much faster," observed the old hand.
Referring to the new yardstick to measure the success of advertising agencies, he said, " The Glamour Quotient, popularly known as GQ, will be the standard success parameter for all agencies. Greater the amount of GQ an agency can garner, the higher will be its success in the industry."
Kapur admitted that there have been many pundits, who have predicted drastic changes for the industry and most of the times, the predictions did not hold true. This, however, did not deter him from predicting the future of the industry. In any case, the industry has shrugged off the predictions that did not come true and carried on.
While making a series of predictions, he said: "Inflation will be the order of the day as will low remuneration for the media houses. Fee will be the dominant form of remuneration for the agencies. Advertising will not be the dominant form of communication. Planning will overtake all the other areas of the agency. Creative executives will head the agency other than the planning functions. Clients will want more for less. One or two big advertisers will opt for setting up in-house media buying houses."
And, drawing the conclusion, Kapur felt that the industry was functioning purely on gut-feel and imagination. “Great ideas are required to drive the industry and great ideas cannot be replaced," he said.