Are Ad Agencies Becoming Irrevelant in a Marketing Oriented World?

I was in a discussion with an EVP of a major New York Ad Agency regarding the increased importance of an integrated marketing approach. The goal was to ensure that clients would have the maximum benefits that come from combining, in an effective manner, the advertising, PR, promotion and all the other elements of the marketing mix to create truly measurable results. We had talked about creating a team of experienced professionals under the guidance of a Marketing Supervisor who oversaw the actions of the various disciplines to ensure they were properly integrated and reinforcing each other to maximize the business potential for the client. That discussion took place in 1973.

Do you think the time has come for agencies to reinvent themselves on a business model such as that? Do you feel it would be a Smart Move?

Let's hear your thoughts