Ad body ditches pitch fee policy amid downturn

<p>HONG KONG: The Association of Accredited Advertising Agencies (4As) </p><p>of Hong Kong has abolished its HK$20,000 (US$2,500) pitch </p><p>fee policy as the global economic slump continues to dent adspend. </p><p><BR><BR> </p><p>The pitch fee policy, introduced over a year ago, had the backing of the </p><p>Hong Kong Advertisers Association (2As). Nancy Pang, vice-chairman of </p><p>the 2As, said: "It is a pity that the 4As and its members could not </p><p>persist in keeping it. Charging pitch fees not only benefits ad </p><p>agencies, but is also healthy for the industry as a whole as it makes </p><p>advertisers think twice before they hold a pitch." </p><p><BR><BR> </p><p>The 4As decided to drop the policy, which it felt was not part of the </p><p>key issues now facing the industry. The association said its key mission </p><p>under the current circumstances was to attract the best talent and bring </p><p>recession-proof skills to advertising. </p><p><BR><BR> </p>