Nine agencies—including incumbents Draft Worldwide and Publicis—are pursuing Business Week's $10 million account, sources said.
The shops, all in New York, are Grey Worldwide, Publicis, Margeotes|Fertitta + Partners, Mad Dogs & Englishmen, DCA Advertising, Ground Zero, iBalls and Elipze. The last two are interactive shops and are pitching Web du-ties only, sources said.
The client seeks to consolidate business that was formerly split between Draft and Publicis, which both did creative. Media is currently done in-house, but the account encompasses creative and media for the magazine and its Web counterpart, BusinessWeek.com.
Morgan Anderson Consulting in New York is managing the process, which began in October. The consultancy confirmed its involvement, but referred further questions to the client, which could not be reached.
Sources said that at an agency briefing, Keith Fox, client svp, marketing and business development, said the magazine needs a strategy to distinguish it from chief rivals Forbes and Fortune. Strategies must be shown via print ads. After presentations, the client is expected to cut to three agencies; it hopes to select a shop in January.
"The emphasis is on strategic thinking," said one source. "[The shops] can't [just] come up with a clever ad."
Draft's recent print ads are themed, "Seize the week." One shows the magazine's photo on a desk; copy says "it's a high-speed connection" to the business world. Business Week, owned by McGraw-Hill Co., last year spent more than $2 million in the U.S., per Competitive Media Reporting. Susan Johann