Marketing Is Big Business

Marketing, communication, media and creativity are subjects that are very close to my heart, for I have not only seen this sector first-hand for more than two-and-a-half decades but am also an intrinsic part of it. This issue, therefore holds a special meaning for me. In this edition, where we continue to delve into the transformative effects of technology across various sectors, we spotlight the dynamic world of marketing and advertising that is pivotal in shaping consumer perceptions. This sector is undergoing a rapid evolution with the integration of generative AI.  The past year has been particularly insightful. Despite a slowdown in several sectors, including among Indian startups, companies like boAt and Noise have boldly increased their advertising expenditures. This trend underscores the broader realisation among marketers that robust investment in brand building is critical, especially in times marked by global challenges and uncertainties. It’s a strategic move that aims to solidify market presence and ensure long-term business success. 

India continues to stand out on the global stage, quickly becoming one of the fastest-growing advertising markets too. This growth is occurring in a context where other major markets, notably China, are experiencing shifts that have redirected global attention towards India. According to the Pitch Madison Ad Report, the Indian advertising market reached a remarkable size of Rs 99,038 crore in 2023 and is expected to grow by 12 per cent next year to an estimated Rs 1.11 lakh crore. Meanwhile, GroupM is optimistic that the market will expand from Rs 1.41 lakh crore in 2023 to Rs 1.55 lakh crore in 2024, growing at a rate of 10.23 per cent. 

At the heart of this burgeoning market is WPP, the world’s and India’s largest advertising and marketing conglomerate, which continues to set trends. In our cover interview, WPP’s global CEO Mark Read remains bullish on India’s growth prospects and views India as a central hub in driving the company’s global solutions. This strategic emphasis on India highlights the country’s increasing importance and influence in the global advertising and marketing landscape – a sentiment that is echoed in an exclusive interview with Omnicom CEO John Wren, another marketing and advertising legend who is impacting the sector globally.  We dive deep into how WPP and other industry leaders are leveraging technology, particularly generative AI, to foster creativity and drive innovation in advertising. We explore how these technologies are not merely tools for efficiency but are becoming central to crafting personalised, compelling marketing narratives that resonate with diverse audiences across the globe. 

Join us on this exploration of technology’s impact on marketing and advertising. We hope these perspectives will inform and inspire you.