While there was no formal review, PHD and MindShare did present their credentials for the account, which saw monitored advertising spend grow from HK$36 million (about US$5 million) in 2004 to $51 million last year.
For most of the past decade, the company had handled its media duties in-house, highlighting a lucrative direct booking market which, media sources estimate, accounts for as much as 30 per cent of local advertising spend in a year. "The reason is of course to get their professional advice and support for media planning and buying. In our industry, competition is very keen and we are looking at doing a better job through advertising," said Wilma Wong, Ricoh Hong Kong's manager for marketing communications.
For most of the past decade, the company had handled its media duties in-house, highlighting a lucrative direct booking market which, media sources estimate, accounts for as much as 30 per cent of local advertising spend in a year. "The reason is of course to get their professional advice and support for media planning and buying. In our industry, competition is very keen and we are looking at doing a better job through advertising," said Wilma Wong, Ricoh Hong Kong's manager for marketing communications.
A media industry source added: "Their direct booking rates are as competitive as the agencies'. What they want are better insights about their consumer to make use of media effectively and handle campaigns for their SME targets."
Ricoh's spend level makes it the second-largest spender in its category, which includes Brother International, HP, Canon and Epson. As much as 84 per cent of its 2005 spend went on newspapers, with its last campaign being a print push in February for its digital printer. Last month, Ricoh also co-organised a charity movie carnival 'Colour your life' for the outdoor screening of My Neighbour Totoro.
