Word: dignan
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Dates: during 2000-2009
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...agencies work with clients to create new products, eschewing fees in exchange for a piece of the action. London agency Erasmus and Coca-Cola jointly developed an energy drink called Relentless that is being rolled out globally. "It's all about shared risks, shared rewards, shared ownership," says Graeme Dignan, Erasmus co-founder. (See business bucking the recession...
...Agencies are taking on a lot more risk than they are used to by launching their own branded products. Results so far have been reasonably positive, according to the agencies. Dignan of Erasmus says Relentless is Coke's most successful new brand in a decade. The potential reward is worth the risk, says Barnett. If the agency's Fat Pig organic-candy line flops, he says, "the worst thing that could happen is there would be a lot of chocolate for us to eat." That's sugarcoating the prospect of a brand going bust, though. If a lot of agency...