The survey’s producer, Next Level Strategic Marketing Group, says the results indicate the current state of priorities rather than a lack of foresight, as chief marketing officers and brand managers attempt to maximize tighter resources.
Next Level SMG received nearly 100 responses from senior marketing officials at food, beverage, personal care, hospitality, electronics, and home and building products companies. The survey was conducted in October 2007.
Among the chief findings were that:
• 70% developed or launched a new innovation or line extension.
• 62% deployed new marketing initiatives.
• 56% launched a new advertising campaign.
• 55% redesigned their packaging.
• 44% repositioned their brand.
“The need for creativity and change was driven by marketplace realities,” says Heidi Krauss, director of Next Level SMG and creator of the survey.
When asked if they could change one thing about their 2007 marketing strategy, 28% of the respondents say they would have invested more effort to learn what motivates and influences their customers.
“What might be called ‘marketer’s remorse’ isn’t uncommon toward the end of the year,” says Krauss, formerly senior marketing director at The Dannon Co. “Companies are doing a lot of consumer research, but everybody has to prioritize their resources and focus on their must-do research needs versus their nice-to-knows.”
However, marketers generally intend to continue their innovative ways in 2008.
