Word: guarascio
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Dates: during 1991-1991
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Clients have become much smarter shoppers in other ways too. General Motors now has an ad czar, Philip Guarascio, who controls an estimated $900 million corporate marketing and advertising budget. By negotiating huge coordinated media buys for all GM divisions as well as multi-year deals at discounts, he is saving the company about $100 million annually. Guarascio insists, though, that effectiveness, not necessarily price alone, is his first consideration. Says he: "The most important aspect of an agency's performance is to create ideas for us that build business...
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