|
||||
| Redefining
the art of advertising It began in 2002, when Q&E's board of directors felt a strong need among businesses for long-term marketing communication solutions, rather than individual project-based execution of their communications. "It's not a shift," explained Vijith Kannangara, chairman of Q&E, "but a more structured approach to help clients understand and appreciate the value of their brands." Dr. Uditha Liyanage, a specialist in branding and marketing, who was part of the restructuring process, explained that by redefining the purpose, the marketing communications company looked at specific elements. "We started crystallizing our purpose and goals and set up a structure that enables development of strategically sound campaigns seamlessly. Firstly, we established a need for strategy. Secondly, we made a commitment to create culturally relevant communication." Dr. Liyanage said that most people are under a false assumption that all Western models work locally, which was not necessarily the case. Therefore, Q&E has laid specific emphasis towards keeping themselves open to look at local models. Giving examples, he explained that local research suggests Sri Lankans can tolerate abstract concepts more than Westerners; have a tendency to accept communications from a point of negativity rather than the positive aspects; and tend to be central in expecting preferences, views, etc. "Sri Lankan advertising hasn't been sensitive to these aspects. Our focus involves a conscious effort to speak to the local mind," he said. Q&E as part of its strategy committed itself to creating morally responsible communication that would be sensitive to the people and respect their values. By way of restructuring, the company now has a hexagon, elements of marketing communication such as research, strategy, creative, account management, media and public relations. The 'right people' with expertise in the respective areas have been recruited to head the various sections. This makes the company posses a unique edge, where it now has a combination of strategy, creativity, local knowledge and marketing insight. "Everything we do is evidence based, we do not depend on assumptions or personal opinion, every hypothesis is tested, therefore there is a very low margin of error," added an official of the restructuring team. Speaking about acceptance of their approach, Chrishantha Jayasinghe, joint chief executive officer and executive creative director, said that clients feel more comfortable because there is always data that backs their decision. "It's not about a pretty picture, but a more scientific approach where even the clients can justify their decisions to their Board," he added. Q&E, which has been in operation for over 15 years, has also established its principle of maintaining long-term relationship with clients. "We were never in the business of collecting accounts. Instead we concentrated on providing an excellent service to a select list and growing with them. The restructuring is part of this initiative to make our relationships even stronger," added Kannangara. The company's client portfolio includes DIMO, Janashakthi General Insurance and Commercial Bank with working relationships ranging from seven to twelve years. Its work with clients like DIMO has been recognized by DIMO's principals comparing them to even that of Singapore. Questioned as to why the company did not follow the industry trend of seeking international affiliations, Kannagara said they wanted to focus on processes to suit local market conditions. "But that does not mean we shun international knowledge, we would learn from them, but we would work out the local market applicability." Dr. Liyanage said, "We have looked at a business model that leads to a communication model, because communication should be rooted in business strategy." Q&E has a staff of over 60 personnel and serves clients such as Suntel, Commercial Bank, Sathosa and brands like Mercedes Benz, TATA and Mortein. Stocks
recover from slump Expectations of better corporate quarterly results also contributed to the recovery, which saw the All Share Price Index ending almost where it began the week. The ASPI fell by over 50 points in the first three days of the week before renewed buying interest, led by foreigners halted the slide. It ended at 987.50. "The profit taking, forced selling and panic selling continued during this week too," Bartleet Mallory Stock Brokers said. "Although the economic outlook and corporate performance are favourable to the market, the lack of significant positive political news hampered the potential of the market to make a quick turnaround." The sale of a seven percent stake held by the government in National Development Bank at Rs 160 a share to the Bank of Ceylon boosted turnover to Rs 842 million on Friday. Foreign purchases were greater than sale resulting in a net inflow of Rs 55 million during the week. Mahesh Pieris, a broker at Asia Securities, was quoted by Reuters as saying that the market could meet resistence at the 1,000 level. "At the 1,000 mark the market may take a dip again -- investors are still a little cautious," Pieris said. |
||||
Copyright © 2001 Wijeya Newspapers
Ltd. All rights reserved. |
