What do City Analysts Want to Know About Marketing?
David LangInvestec
Branding's central paradox is that returns are typically scale related, but unfortunately, and especially at the corporate level, scale introduces severe organisational and executional challenges. These make the quest for the right operational and portfolio balance never ending. The stock market is very alive to the forces acting on fmcg companies that could tip the balance one way or the other.
Top of the current list of worries is global retailer consolidation. Fmcg stocks have been struggling to make headway with a marketplace shift in favour of consumers...