Food Company Mondelez Undergoes Marketing Strategy Overhaul to Boost Profits
Following a bigger drop in sales revenue than expected in the fourth quarter, owner of brands such as Cadbury, Mondelez International, is to gear up their marketing activities in a major way.
The food company attributed the drop in sales to a "transitional year" following its split from Kraft Foods in September last year. Now however, Mondelez is set to invest heavily in brand innovations and other promotional strategies to meet their target of a 5% increase in revenue.
Chief executive at Mondelez, Irene Rosefield explained they will look to boost the reach of their major brands through "innovation platforms and by expanding further into faster growing snack categories such as beverages over the next 12 months to reverse the declines."
She added:"We remain relentlessly focused on driving our global snacking platforms and power brands while leveraging our strong routes-to-market to deliver on the exciting promise of our new growth company."
With the objective of building loyalty for its key brands over rivals like Nestle during weak economic conditions, Mondelez is undergoing an extensive overhaul of its marketing campaign strategies. This includes placing greater focus on developing markets and young adults, as well as on cultivating a stronger integration of mobile into its ad activity.