Oscar Mayer has a way ... with reverse auctions

This event report outlines how The Kraft Heinz Company is using reverse auctions to procure various marketing services.

Oscar Mayer has a way … with reverse auctions

Mary Connors

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...

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