The recent situation with Kraft Heinz brands highlights a problem that many brands are facing today – failing to monetise powerful brands at the shelf. CEO of Kraft Heinz, Miguel Patricio told reporters and analysts after the recent quarterly reporting that the Kraft Heinz brands are icons. He just wished they would stay “living icons”.
The dynamics have changed: latent brand equity in the ether does not guarantee you’re bought, or even in the consideration set, once people are in front of the shelf where 70% of purchase decisions are made.
Dealing with these new dynamics requires...