For Grey Global Group Inc., its contract to create TV, print and Internet advertisements for Procter & Gamble Co.’s Pringles isn’t just about selling potato chips. It’s about the end of billable hours.
Instead of being paid for hours clocked devising promotions for rice potato chips or crispy cracker sticks, Grey earns an undisclosed fee upfront and add-on payments for sales and market share gains. P&G moved brands accounting for 40 percent of sales to the new payment system July 1 and aims to expand that.
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