Buy has begun to solicit information, via request-for-proposals (RFPs),
from agencies other than its lead partner, the MDC Partners' CP&B, reports AdAge.
to people close to the situation, the electronics giant sent out RFPs
to multiple agencies that included integrated marketing duties such as digital marketing, social media, print and broadcast.
which was one of the agencies that received RFPs, is not worried about
losing business. Company president and partner Jeff Steinhour stated
that the requests were for additional services and that it wouldn't
affect CP&B's relationship with Best Buy. The retailer's
media-planning (which CP&B used to run) and buying accounts were
consolidated at Publicis Groupe's Starcom.
Buy ranks as the 62nd largest advertiser, according to Ad Age's
Datacenter. The retail giant spends more than $555 million a year. Best
Buy has almost 1,100 stores and reported a 0.3% decline in revenue in
2011's first quarter.
Best Buy also has no plans to dismantle its in-house marketing operation, Yellow Tag.