Leo Burnett &Target Romania Strategic Management Study Case
1. Presentation and development
Local representative of the worldwide communications group Leo Burnett, Leo Burnett & Target Romania is a full-service advertising agency which offers superior advertising services to build icon brands on the east-european market. With 78 employees, Leo Burnett was founded in 1994 and is now the second advertising player in the region in terms of turnover (13 million Euro) and third in terms of profit (700.000 Euro). It has been enjoying a period of sustained growth since 2001.
Identical to the global network's vision, the Romanian company's vision is to create ideas that inspire enduring belief'. This means transforming customers from buyers into believers'. The brand believing attitude goes beyond mere liking or preference for a brand. It means kinship and commitment. The company's purpose is to build confidence amongst the general public in its clients' brands and its mission is to improve the sales effectiveness of its clients through ideas.
The Board of Directors consists of three people: CEO - Ioana Iordache (12.8% of shares), Managing Partner Stefan Iordache (12.8% of shares) and Creative Director - Bogdan Naumovici (5.5% of shares). Ioana and Stefan are the managers and the strategic minds of the company and Bogdan Naumovici is the informal leader and masterful communicator. Naumovici is renowned in the advertising industry for his very flamboyant personality and competitive spirit. Brash, outspoken and efficient, he is the most visible face in the Romanian media landscape. However, because of his difficult personality, Leo Burnett has lost some valuable clients and employees. The brothers Ioana and Stefan Iordache were the entrepreneurs, the ones who founded the business in 1994 and affiliated it to the Leo Burnett international group in 1995. In an advertising industry still in its infant phase, without know-how, the first years of the company were spent trying to develop real competencies with help from the
Local representative of the worldwide communications group Leo Burnett, Leo Burnett & Target Romania is a full-service advertising agency which offers superior advertising services to build icon brands on the east-european market. With 78 employees, Leo Burnett was founded in 1994 and is now the second advertising player in the region in terms of turnover (13 million Euro) and third in terms of profit (700.000 Euro). It has been enjoying a period of sustained growth since 2001.
Identical to the global network's vision, the Romanian company's vision is to create ideas that inspire enduring belief'. This means transforming customers from buyers into believers'. The brand believing attitude goes beyond mere liking or preference for a brand. It means kinship and commitment. The company's purpose is to build confidence amongst the general public in its clients' brands and its mission is to improve the sales effectiveness of its clients through ideas.
The Board of Directors consists of three people: CEO - Ioana Iordache (12.8% of shares), Managing Partner Stefan Iordache (12.8% of shares) and Creative Director - Bogdan Naumovici (5.5% of shares). Ioana and Stefan are the managers and the strategic minds of the company and Bogdan Naumovici is the informal leader and masterful communicator. Naumovici is renowned in the advertising industry for his very flamboyant personality and competitive spirit. Brash, outspoken and efficient, he is the most visible face in the Romanian media landscape. However, because of his difficult personality, Leo Burnett has lost some valuable clients and employees. The brothers Ioana and Stefan Iordache were the entrepreneurs, the ones who founded the business in 1994 and affiliated it to the Leo Burnett international group in 1995. In an advertising industry still in its infant phase, without know-how, the first years of the company were spent trying to develop real competencies with help from the