Food Makers Look to Protect Profits October 1st, 2008
Economy woes are more pronounced than ever as Wall Street faces a long road of recovery and Main Street does its best to avoid being collateral damage. As economic conditions weaken, companies are being forced to tailor their marketing strategies to meet the needs of their bottom line, while still encouraging consumers to purchase their product over their competitors. Any individual catching the occasional commercial on TV today can tell you that many products are being marketed to prove their value over their quality. No more pronounced is this than in advertisements for the food industry.
In comparison to last year, more and more food makers are stressing their dollar-friendly food products over their premium brands. Food makers such as Kraft and Campbell Soup Co. for instance are teaming up to market “wallet-friendly” meals such as grilled cheese sandwiches with Kraft cheese and Campbell’s Tomato Soup. In years past both of these food makers pitched food products to consumers that were marketed to promote the healthfulness or taste quality of the food product.
However as the state of the U.S. economy remains uncertain, food makers have adapted to the changing conditions in order to appeal to the needs of mainstream consumers; which has switched from a want for taste and healthfulness, to one of price and value. In the coming months ahead, it is anticipated that food makers like Kraft, Kellogg Co., and Campbell Soup Co. will continue marketing campaigns that acknowledge the consumers need to pinch pennies with promotions using coupons and advertisements that stress the bargains their food products provide.
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