How early audience insights reduce innovation failure
Learn how understanding audience habits first prevents costly innovation failures and gives companies a strategic advantage during uncertain times.
Anthony Kuo, Manager, Strategic Analytics North America Biscuits at Mondelez International, and Oskar Toerneld, Director at SKIM, shared with Snack Food & Wholesale Bakery Magazine five pricing strategies which can lead to more robust portfolio management. All you need are the right pricing insights and to know which pitfalls to avoid.
Five portfolio management mistakes brand managers make
“Within a product portfolio, one finds an assortment of items that cover a variety of consumer needs and segments. There are probably some high and low performers. Perhaps there have been some changes to the market since the current portfolio strategy was defined. It’s even likely that pricing in the category has changed—perhaps driven by changes in cost of goods.
Faced with constantly changing markets, it’s necessary for a franchise to continuously re-evaluate its portfolio strategy in order to defend financial goals and positioning. Portfolio adjustments can have short-term and long-term consequences, so it’s important to consider the full range of options and potential costs and benefits to each. Here are some common strategic pitfalls that brand managers can run into when trying to optimize a portfolio…”
Read the entire article on the Snack and Bakery Magazine website…
