- Far from making current brand advertising obsolete, new media is just another part of the marketing mix, Philip Geier, the chairman and chief executive office of the Interpublic Group, has said.
Geier made his comments in a speech, 'Beyond the New Horizon', at the 1999 American Association of Adverting Agencies Management Conference & Annual Meeting.
His comments follow Interpublic's acquisition last month of a £12 million, 20 per cent stake in Swedish-based new media company Icon MediaLab the single largest investment in new media by advertising group yet made.
Geier told delegates that new technology always finds a place -- but added that it is not always the place its inventors had in mind.
"Cable TV began life as a delivery system, not a medium but look at it now. Television was supposed to be the death of radio. It wasn't; it simply changed the function of radio in the total mix," said Geier.
He argued that the key factor media theorists tend to overlook in making revolutionary predictions is consumer preference for rate of change.
The Interpublic chairman said, "People don't change anything like as fast as technology. The theorists may like revolutions. Consumers prefer evolutions and guess who makes the final call?"
He added: "There is no substitute for a strong creative idea at the heart of a brand. Our task is to build on an existing brand image, to enhance that brand's brand experience and create a true relationship with consumers in as many of those ways as possible
because we're no longer dealing with the media generation. We're now dealing with the multi media generation."
The Interpublic Group owns the McCann Erickson WorldGroup, Ammirati Puris Lintas, The Lowe Group, DraftWorldwide and Western Initiative Media Worldwide.