ASK Group appoints MEC as media partner; ad spends pegged at Rs 5-6 crore

The media duties for the group's previous campaign were handled by Media Direction

The ASK group, a leading wealth management player in India, has appointed MEC as its media partner. The agency will now handle all the businesses under the group. The ASK Group's ad spends for the coming fiscal are pegged at around Rs 5-6 crore.

There was no formal pitch process. Instead, a few media agencies, the names of which could not be ascertained at the time of filing this report, were evaluated; after which the duties were awarded to MEC. The media duties for the ASK Group's previous campaign (2009) were handled by Media Direction.

ASK Group appoints MEC as media partner; ad spends pegged at Rs 5-6 crore

The ASK Group has a heritage that dates back to 1983. It is currently responsible for managing the wealth of some of the richest families in India. The group claims that its investment advice is rooted in strong research; it also claims to have pioneered the concept of equity research in India.

Presently, the ASK Group offers a range of wealth management solutions, including portfolio management, real estate advisory and investment advisory services.

Speaking about the partnership, Salil Vaidya, head, marketing, ASK Group, conveyed via a press statement, "MEC, with its excellent track record and all-round capabilities, is the right partner for our business needs. Given the challenges we face in reaching our prospects -- who are some of India's richest individuals and families -- we needed a partner who can offer unconventional and media-neutral customer engagement solutions."

Echoing the sentiment, Manjiri Kamat, managing partner and general manager, MEC, Mumbai and Bengaluru, expresses, "It is a real pleasure to have a prestigious brand like ASK as our client."

She adds that the company has aggressive growth plans for the future. "We look forward to adding value through our unique 'Active Engagement' approach. Exciting times lie ahead."

MEC, which has four offices across India and a staff of over 130 people, boasts of an impressive clientele, including LG Electronics, Colgate, Reliance Communications, Nivea India, Mercedes Benz, Zee Network, HDFC Standard Life Insurance, Citi, DHL, Sony Ericsson, Singapore Tourism Board, Cavinkare, Singapore Airlines, Honda Motors & Scooters, Jaypee Cements and Pidilite.

Have news to share? Write to us atnewsteam@afaqs.com