Our take: Brand needs to make inroads with Millennials to maintain its market share... |
The sudden and unexplained exit two weeks ago of Campbell Soup Company’s CEO Denise Morrison brings the firm the opportunity to review and reset its strategies.
Essentially, it means revisiting its portfolio of products and market positions, weighing acquisitions and dispositions of existing assets, and potentially even putting itself up for sale.
“Everything is on the table. There are no sacred cows,” interim CEO Keith McLoughlin told analysts after its third-quarter earnings announcement, which was on the same day Morrison quit.
Campbell Soup still has a lot going for it, and with the right strategies and execution, it could bounce back to good health, according to experts at Wharton and the University of Michigan.
As it happens, Campbell Soup is America’s 10th most-loved brand and fifth in the foods category, according to the 2018 Morning Consult rankings.
“There are still plenty of consumers who care about it and love it,” said Wharton marketing lecturer Jason Riis.
However, “the brand is not quite as strong among millennials as it is among Gen Xers and baby boomers,” said Riis.
“The company has tried to respond to preferences that generation seems to have for knowing where its ingredients come from and looking for...
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