Were insufficient marketing efforts a key causal factor in the underperformance of Kraft Heinz and other venerable brands?
Former marketing finance executive Jim Meier has his suspicions. “Most articles written during the unfolding Kraft Heinz story cite as key causal factors changing consumer tastes and the failed efforts of zero-based budgeting. I concur with both of those causal factors; however, I believe another more critical causal factor tends to be overlooked. That factor is simply an inadequate level of marketing spending, which may or may not have been a by-product of the zero-based budgeting exercise.”
Meier has been studying the progress of Kraft Heinz, Hostess and other brands, and he’ll lead the open discussion How can “old” brands survive in the current environment? at MASB Summer Summit, Aug. 13-14 at DePaul University in Chicago. After presenting the contrasting examples of Hostess and Kraft Heinz, he will lead a discussion with the marketing and measurement practitioners and academics in attendance. Request your invitation from events@themasb.org.
Meier, who retired as Vice President of Commercial Finance at MillerCoors and serves as MASB Trustee and Treasurer, is co-author of the MASB publications The Financial Value of Brands Imperative: Why Brands Must be Valued in Financial Terms and The Bud Light Brand Divorce. He recently contributed to the webinar, Why Brands MUST Be Valued in Financial Terms.
MASB summits are key gatherings for those driving the marketing accountability movement. Leading finance, analytics and marketing professionals from marketers, their suppliers, industry associations, and academia attend to network, get briefed on recent advances, and participate in shaping the future of accountable marketing.