Oscar Mayer has a way … with reverse auctions
It's an old marketing challenge: Good. Fast. Cheap. Pick two and walk away with the bacon.
The good news: According to the former Head of Insights for Oscar Mayer, it's now possible to get all three by using a reverse auction to procure marketing services.
Following the merger of Kraft, the parent company of Oscar Mayer, with H.J. Heinz in mid-2015, any contract with an outside vendor worth $10,000 or more is subjected to an online reverse auction. Rival bidders for the contract view competitors' bids and may adjust...