Procter & Gamble increased ad spend by $140m (£113m) in the last quarter as it seeks to drive household penetration for its brands.
P&G reported a 4% drop in profits over the first quarter of its 2023 financial year, with gross profit reducing from $9.97bn (£8.86bn) in 2021 to $9.76bn (£8.67bn).
While promising continued brand investment, P&G is also making spend more efficient, with new targeting capabilities across both TV and digital.
Marketing is likely to face “increased scrutiny” as inflation continues to rise to record breaking levels, so marketers must focus on using creativity as a “power for growth”, Pritchard said.
In the latest episode of Marketing Week’s podcast, two Procter & Gamble marketers at different stages of their careers share how they have benefitted from the company’s mentor programme and the constant exchange of ideas.
Promoting the value credentials of its brands and building in new pricing architecture is enabling P&G to navigate inflation without losing customers.
Two senior global marketers debate whether today’s marketing can drive a sustainable future.
Kicking off its biggest ever UK launch, the Procter & Gamble-owned brand is looking to “modernise” its image with a “high impact” campaign for the new Gillette Labs razor.
The FMCG giant has reduced marketing spend as a percentage of sales by 80 basis points, while driving a 6% increase in net sales.
P&G spent $130m (£94m) on marketing over the first quarter of its financial year, while also reporting a 5% boost in net sales to $20.3bn (£14.6bn).
Ready to welcome its first commercial apprentices next month, Procter & Gamble switched to virtual internships and graduate recruitment at the start of the crisis in a bid to support young people facing a Covid-ravaged jobs market.
From PepsiCo creating a dedicated graduate programme for marketers to P&G increasing the diversity of its candidates via virtual assessment centres, brands have defied the odds to ensure they continue recruiting fresh talent.
Procter & Gamble promises to maintain its investment in “brands that are winning” following the departure of CEO David Taylor, who credits innovation and superior brand communications for driving a 7% boost to net sales.
Procter & Gamble’s chief brand officer reveals how he stays “fresh” and inventive after nearly four decades with the company.
Procter & Gamble saw a 5% revenue increase and credits this to “doubling down” on marketing and innovation over the past year.