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Jim Stengel, a marketing expert with P&G experience, discusses brand strategy success, marketing campaigns, data analytics in branding, social media evolution, and target audience identification at Cannes Lions.
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Quick takeaways
- Innovative product features can initially succeed, but market competition requires continuous innovation and understanding of consumer preferences.
- Connecting with consumers at a deeper level through values and advocacy can reinvigorate a brand and drive significant growth.
Deep dives
Jim Stengel's Early Experience with P&G and Introduction of Duncan Hines Cookies
Jim Stengel's early career at Procter & Gamble (P&G) involved introducing Duncan Hines Cookies to the market, facing competition from established brands like Nabisco and Keebler. The innovative approach focused on creating a ready-to-eat cookie that stood out with a crispy outside and a soft inside. Despite initial success, their lack of variety and underestimation of competitors led to a failed national expansion, a valuable lesson in market competition.
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Listen to the best highlights from the podcasts you love and dive into the full episode