NEW YORK-Campbell Soup revealed on Friday that the company is launching a series of investment initiatives both in the U.S. and overseas to strengthen its position in the soup, sauces, beverages, and indulgent snacks categories.
Speaking before a group of investors and analysts, Campbell CEO/president Douglas Conant said the majority of the increased investment "will be focused on improved product quality, increased marketing and advertising, and accelerated innovation." BBDO, New York, is the company's lead agency.
According to Conant, Campbell will boost total company marketing investment by 15%, or approximately $200 million, to fund new product launches and increased advertising and consumer promotion, largely behind core U.S. soup brands.
In particular, the company's increased advertising will focus on Campbell's condensed Red & White, Chunky, and Select soups. He said the Camden, NJ-based company also will integrate and leverage the recently acquired Unilever culinary food brands in Europe, increase investment in indulgent snack brands such as Pepperidge Farm, Godiva, and Arnott's, and restore strong levels of investment in its Prego and V8 brand.
"We have been inconsistent in our advertising messages and spending," said Conant. "Change is underway."