Marketing budgets and good growth: Your Marketing Week
At the end of every week, we look at the key stories, offering our view on what they mean for you and the industry. From Nestlé declaring “growth is back” to two brands hiring their first CMOs, it’s been a busy week. Here is my take.
Good growth
Good growth“Growth is back”, declared Nestlé this week. Not on behalf of the nations of the world that have been suffering from anaemic growth, but its own “real internal growth”, the balance between volume and value growth.
All consumer goods companies were faced with the same challenge coming into 2024 – volume growth. Most had delivered inflation driven revenue increases in 2022/23 but many had seen volumes dip. The business challenge was a marketing one: how do we get people to buy more, and at a price point that won’t hurt margins, especially with private label continuing to steal share.
