The Marketing Accountability Standards Board has had a keen eye on KraftHeinz throughout the difficulties that have resulted in its splitting up.
On Aug. 13, just prior to the big announcement, MASB Trustee and former industry exec Jim Meier discussed the situation during his MASB Summer Summit presentation, How can “old” brands survive in the current environment? He surmised that insufficient marketing efforts were a key causal factor in the underperformance of Kraft Heinz and other venerable brands.
After the split was announced, Meier published his observations in Branding Strategy Insider: “There has been little to no coverage questioning whether Kraft Heinz has, for years, underinvested in advertising and marketing. Is this a consequence of a structural misallocation of resources by Kraft Heinz senior management and its board in a fundamentally cash-generative business?” READ ARTICLE
MASB CEO Joanna Seddon added her perspective in an article published on LinkedIn:
“To survive, brands must remain relevant in the minds of consumers. They require constant investment to be considered by people at the point of purchase and consumption. This requires vigilant brand managers who have a relentless focus on their consumers, creating moments of emotional connection to achieve saliency across occasions. We know consumer trends are shifting, but while this means former consumption occasions are declining, new ones are growing with new needs and new innovation opportunities.” READ ARTICLE