In the Nestlé chairman’s declaration that its UK operations had stacked up enormous costs through product hyperventilation there is a warning to marketing managers across all sectors to take better consideration of all the factors impacting the success of a new product or brand (MW March 9).
Nestlé is a classic example of how product and brand proliferation can spin out of control in a competitive market. Increased competition means we accelerate the launch of new products. This is dangerous without careful consideration of all the activities and resources required to achieve profit and the external drivers that could impact success.
With an increasing number of UK organisations issuing profit warnings according to the latest PWC figures, we need to review how we identify what it takes to launch profitable products.
Corporate performance management software gives marketing managers the ability to do this while still
maintaining competitive time to market – proving your business can keep an edge without taking risks.
Vice-president of global marketing