What's Happening?
Megan Frank, Senior Vice President of Marketing and R&D at Mizkan, a 221-year-old family-owned food company, is focusing on modernizing the company's legacy brands such as Ragu, Bertolli, Nakano, and the newly acquired Zing Zang. In a recent discussion, Frank emphasized the importance of maintaining the core values and assets of these brands while adapting them to meet the expectations of today's consumers. She highlighted the use of frameworks like OGSM (Objectives, Goals, Strategies, and Measures) to align long-term vision with short-term actions. Frank also discussed the integration of media and shopper marketing under one team to create more seamless consumer experiences and the role of data-backed joint business planning in managing retail partnerships.
Why It's Important?
The modernization of legacy brands is crucial in maintaining their relevance in a rapidly changing market. By preserving core brand values while adapting to contemporary consumer needs, Mizkan aims to sustain its market position and appeal to new generations. This approach not only helps in retaining existing customers but also attracts new ones, ensuring the longevity of the brand. The strategic use of data and integrated marketing efforts can lead to more effective consumer engagement and improved business outcomes. Companies that successfully balance tradition with innovation can gain a competitive edge in the industry.
What's Next?
Mizkan is likely to continue leveraging its strategic frameworks and data-driven approaches to further enhance its brand portfolio. The focus will remain on creating consumer-centric experiences and strengthening retail partnerships. As the company adapts to market trends, it may explore new product innovations and marketing strategies to expand its reach. Stakeholders, including consumers and retail partners, can expect ongoing efforts to align Mizkan's traditional values with modern consumer expectations.
Beyond the Headlines
The efforts by Mizkan to modernize its brands while preserving their essence reflect a broader trend in the industry where heritage brands are seeking to remain relevant in a digital age. This involves not only product innovation but also cultural shifts within the company to foster agility and empowerment among teams. The success of such initiatives could influence other legacy brands to adopt similar strategies, potentially leading to a wave of modernization across the industry.
