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CPG/FMCG

FORECASTING 2022: How Can Scenario Planning Improve Agility in Adjusting to Change?

On July 12, 2022, forecasting, and product experts shared frameworks and strategies for participants to consider as they plan amid disruptions in the industry. Presenters discussed techniques marketers could use to drive consumer action and advocacy — as well as econometric models for search trends, insights on holistic analytics programs, reflections on gold standard probability methods — and new forecasting techniques in the wake of the pandemic and more.

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Privacy Safe Approach to Ecommerce Audience Quality Measurement

A multi-billion dollar pet food manufacturer analyzed its audience targeting strategy with the goal of ensuring efficient online ad spending, according to Souptik Datta and Zulema Doiny-Cabre of GroupM. The analysis with GroupM evaluated the performance of existing audience segments, pinpointed profiles of high-performing audience segments for additional opportunities and determined the optimal ad impression frequency.

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Doldrum of COVID Leads to Breakthrough Creative

In the early stages of the COVID-19 pandemic, PepsiCo embarked on a 21-month research project to find out how the quarantining affected people’s lives. The goal: adapt its brand messaging to the experiences of its core consumers, from both a human and consumption perspective, and then develop new creative. “We know that our primary consumers are really out there,” Kevin Moeller of PepsiCo said, citing data on Pepsi’s core base. “They enjoy letting loose, they don’t like to hold back. They’re people that sing karaoke and cheer at sports events. So how did quarantining impact them?”

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Audience Trends for Products with Supply Constraints

IRI’s Michael Tscherwinski addressed the challenges marketers are facing due to supply-constraints and provided a best-practices playbook for unlocking opportunities. IRI’s 2022 outlook on product availability predicts continued challenges. Inflation, supply chain issues, as well as the war in the Ukraine, impact the operations of CPG companies. Category out-of-stock conditions are widespread, and many CPGs are pausing media. However, Procter & Gamble, one of the largest advertisers in the world, stated that it would continue to invest in marketing.

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Growing ROI with YouTube ABCDs Creative Effectiveness Guidelines

Creative is the dominant ROI driver across all media platforms according to Nielsen Catalina Solutions: creative 49%, media 36%, and brand 15%. However, creative is challenging to measure. The speakers provided an ABCD insights framework for building effective ads on YouTube based on the key creative elements that drive sales as proven by Google’s partner, Nielsen.

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Improving Product Sales Predictions Is Brain Science

  • MSI

It’s no surprise that new product launches often fail to meet their targets. The trick for managers is to improve their predictions for such products. They must balance the costs and benefits of many different data sources and analytic techniques in order to improve forecasting. To enhance the accuracy of predicting the market-level sales of new products, researchers Marton Varga, Anita Tusche, Paulo Albuquerque, Nadine Gier, Bernd Weber, and Hilke Plassmann, analyzed the added value of different data types. Their conclusions are illuminating.

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What a Product’s Weight Conveys to Consumers

  • Marketing Science Institute

A product’s shape, packaging or logo contributes to consumer understanding and reactions to that product, previous research has found. But what impression does the perceived weight of a product convey and how can this be used for advertising and marketing purposes? Researchers Priya Raghubir, Lu Yang and Dengfeng Yan looked into this and discovered that consumers use a stability heuristic for weight judgements. Shorter, broader objects are judged to be heavier and thus are considered more stable. And when it comes to food items, weight also plays on such things as calorie assessment.