At a glance
Premier Foods owns many well-known and well-loved brands in the UK, but sales were declining. It took a strategic decision to move away from being from a trading-level organisation to become a brand-building and innovation-led, consumer-focused organisation.
Why it matters
Anyone can boost short-term sales using price and promotions; Premier Foods’ investment in innovation and brand-building demonstrates how it’s possible to find long-term sustainable growth in a sluggish market.
Across its portfolio Premier Foods sees a clear correlation: if a brand has a higher rate of innovation, it grows faster than the rest of the portfolio.
- Sustainable and profitable growth in the long term is only deliverable by innovation and brand building.
- Emotional brand building campaigns have a lot stronger long-term brand building potential than functional ones.
- Maximising reach to maximise return on investment is critical, especially if for leading, high-penetration household brands.