What's Happening?
Megan Frank, Senior Vice President of Marketing and R&D at Mizkan, discusses strategies for modernizing the company's 221-year-old brands while maintaining their core identity. Mizkan, known for brands like Ragu and Bertolli, focuses on preserving brand assets and creating a culture of empowerment. Frank emphasizes the use of frameworks like OGSM to connect long-term vision with short-term actions. The company also leverages data-backed joint business planning to manage retail partnerships and has consolidated media and shopper marketing to streamline consumer journeys.
Why It's Important?
The insights shared by Megan Frank are significant for companies managing legacy brands in a rapidly changing market. By balancing tradition with innovation, Mizkan demonstrates how established brands can remain relevant to new consumer demographics. This approach not only helps in retaining existing customers but also attracts new ones, ensuring sustained growth. The emphasis on data-driven strategies and agile marketing practices can serve as a model for other companies looking to modernize without losing their brand essence.
