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Wednesday, August 27, 2014

Kraft Product Breakthrough Innovation

In K@W:  Insightful thoughts about how innovation is important and essential in CPG.   What drives it when you have lots of well known current brands?   How should you invest? What is the meaning of a product category in this context?  Podcast and text:

" ... Like many food companies, Kraft Foods has had to deal with the rising costs for commodities, as well as the changing wants and needs of consumers. Several years ago, the company — which has annual revenues of more than $18 billion and a 27-brand portfolio that includes Velveeta, Jell-O and Kool-Aid — was launching new products at a rapid rate, but it wasn’t really investing in any of them. In recent interview on the Knowledge@Wharton show on Wharton Business Radio on SiriusXM channel 111, Barry Calpino, Kraft’s vice president for breakthrough innovation, discussed how Kraft rethought its strategy and reaped the rewards of a multi-year, multi-channel mindset to marketing. ...  "

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