I read a very interesting article in Business Week talking about a survey of top marketers attending the Effies (advertising industry awards). When asked "True or False: Generating press and buzz is the most important part of building a brand," the results were:

I wonder what the results would have been if the question was stated "Generating press and buzz is AN important part of building a brand." I am assuming everyone agrees that buzz generation and media coverage has its role in an integrated communications program.
I'm happy to see so many on the client side answering "True" to the question - this bodes well for agencies working with those brands. And I'm hoping those on the agency side who voted "False" won't be afraid of having other smart people at the table (some friendly PR pals who know how to generate press/buzz among other things) to help develop the "big idea." The more brains the better I say!
If everyone from all various backgrounds and marketing disciplines could come together to create "the idea" and then discuss the right channel to implement it (versus silo approaches and fighting for budgets) there may be more campaigns with true impact in the world - and we'd all be working hard to create the next one.