Financial Daily from THE HINDU group of publications
Wednesday, Oct 27, 2004
Financial Daily from THE HINDU group of publications Wednesday, Oct 27, 2004 |
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Marketing
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Advertising Info-Tech - Advertising O&M launches B2B practice Our Bureau
Bangalore , Oct. 26 WITH Indian IT firms getting increasingly market savvy in positioning brands globally, advertising biggie Ogilvy & Mather India announced the launch of its B2B practice-Ogilvy Business Markets here on Tuesday. The company views the Indian IT, ITES, BPO and biotechnology segments as potential areas of business wherein brand management and brand consulting services are required, according to Mr Bill Merrick, B2B Practice Group Leader & Director, Asia Pacific Region, IBM Brand Services, Ogilvy Services. On a country-by-country basis, India is expected to show the highest compounded annual growth rate (CAGR) of 83.7 per cent in e-commerce revenue from 2003 to 2008, thus marginally exceeding the expected CAGR of 81 per cent in China, according to IDC forecast on the Asia Pacific Internet market. Consequently B2B e-commerce is estimated to grow rapidly at a CAGR of 59.1 per cent. Ogilvy's business market practice is getting geared up to meet these demands with plans to hire more people and invest. While Mr Merrick was reticent on investment, he said, "The firm will recruit more people and we are looking at talent that can think out-of-the-box and get to the nitty-gritty of things. We are looking at people from diverse backgrounds." Having bagged clients such as 24/7, SAP and some firms in Chennai, O&M's B2B practice expects to win more customers. Brand consulting and brand management gains more relevance in today's environment wherein mergers and acquisitions and global branding are a part of the business dynamics.
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