With a glut of new and updated models to peddle, Chrysler has reportedly upped its marketing budget to $2.9 billion for 2011, up from $1.72 billion in 2010. The automaker outlined the costs in documents given to the Securities and Exchange Commission.
Automobiles and footwear, they're not that different, right? They're both transportation devices; Jimi said "his dusty boots is his Cadillac," putting it all in perspective. Sergio Marchionne has Balkanized the marketing of Chrysler's divisions, and Dodge has taken the opportunity to split from its long-serving agency BBDO, which has handled advertising and media buying for the whole of Chrysler.
Although auto industry money is a bit tight at the moment, in order to sell vehicles, automakers have to buy advertising. Lots of advertising, in big, expensive campaigns with high production values and creative that's at the vanguard of style. Advertising agencies that can handle the needs of giant clientele with international brands are still happy to welcome automotive accounts through the doors.
Chrysler isn't happy with its current marketing partner BBDO, and the Auburn Hills, MI-based automaker has put the word out that it would like some fresh perspective. Among the suitors vying for the $1.1 billion account is Grey, a London-based ad agency under the ownership of holding company WPP. Grey was reportedly scheduled to pitch their new ideas to the Pentastar on September 22nd, but the agency seems to have hit a Tsunami-sized snag.