Food giant Campbell Soup is to increase its marketing spend by around $200 million, as part of a bid to strengthen its presence around the world.
The company is making a series of investments which, says ceo/president Douglas Conant “will be focused on improved product quality, increased marketing and advertising, and accelerated innovation.” Accordingly, Campbell’s marketing budget will jump around 15%, with the extra spend largely devoted to US soup brands such as Red & White, Select and Chunky.
In addition, Campbell will integrate and promote the soup and sauces brands recently purchased from Unilever in Europe [WAMN: 29-Jan-01]. Also in line for added investment are Prego, V8 and snack brands Godiva, Arnott’s and Pepperidge Farm.
“We have been inconsistent in our advertising messages and spending,” commented Conant. “Change is underway.” Campbell’s lead agency is BBDO in New York.
News source: Adweek.com