Procter & Gamble is described as the world's largest advertiser, with brand management covering an huge portfolio of products. So, naturally, it makes sense that P&G would expend some of its research on ways to reduce their advertising spend. Marc Pritchard, Procter & Gamble's Marketing Chief, is charged with making that happen. His take, "It's the most exciting time to be a marketer."
Procter & Gamble typically conducts Signal P&G events at the Cincinnati headquarters. Signal P&G is a day-long conference organized by Federated Media that focuses on brand building in a digital world. For a run down on the power of digital brand building, check out this backstage interview with Dave Knox, Co-Founder of The Brandery and CMO of Rockfish. The Brandery is a top-10 seed stage consumer marketing venture accelerator located in Cincinnati, Ohio, home to Procter & Gamble, Macy's, Kroger, and seven other Fortune 500 companies.
The message that Knox conveyed is clearly that marketers must ramp up their external-focus and tune in to consumer voices. While marketing may be more difficult now that consumers are in the driver's seat, the opportunity for companies to create products that truly meet consumer needs is more developed than it has been for some time.
Did you read about the Frebreze launch in The New York Times? What do you think about Procter & Gamble's re-branding of a product that consumers clearly did not get?