P&G Trims Media Spending, Gets 'Lean' From Production To Market
This article was originally published in The Rose Sheet
Executive Summary
P&G reduces "media waste" by 20% in 2017 and sees further cost-reduction opportunities through private marketplace deals with media companies. During an investor conference, CEO David Taylor says P&G is responding to retailer pressure with a “lean innovation” approach to move products to market more quickly.
You may also be interested in...
P&G Advertising ‘Reinvention’ Produces SK-II Videos Capturing 661M Views
P&G approach to advertising for SK-II skin care drove double-digit sales growth in new users and prompted a 27% increase in searches for the line. P&G has saved $1bn from cost-cutting in ad agencies and advertising implemented over past five years, says chief brand officer Marc Pritchard.
P&G Adds Merck's Brands, Expands Consumer Health Categories, Footprint
P&G’s planned purchase of Merck KGaA’s consumer health care business will grow its personal health portfolio 50%, expand its OTC drug and supplement business abroad and open up new categories. CEO David Taylor framed the acquisition as another step in the firm's ongoing portfolio shakeup.