Mark Wakefield, senior vice president of marketing of Ferrero premium chocolate at Ferrero is obsessed with the emotional benefit that brands bring to their consumers. That’s why, in this episode, Mark gives us a masterclass in brand building and revitalization. Get out your pens, you’re going to want to take notes.
Mark and I also talk about his career path to Ferrero, how sales and marketing should always go hand-in-hand, and his work on a number of interesting campaigns and brands like Tic Tac, Kinder Joy, Baby Ruth, and the premium chocolate, Ferrero Rocher.
In this episode, you’ll learn:
- Steps to revitalizing a nostalgic brand
- How Ferrero is capitalizing on the “premiumization” trend
- The importance of understanding customers’ social and psychological motivations
Key Highlights
- [04:00] Mark’s career journey
- [10:09] All about Ferrero
- [12:48] Steps to brand stewardship and revitalization, including acquisition of Baby Ruth
- [19:07] Capitalizing on the “premiumization” trend
- [24:48] Advice on finding a pathway to new growth
- [31:17] An experience that defines Mark
- [32:28] Mark’s advice for his younger self
- [32:52] What marketers should be learning more about
- [35:03] Brands Mark is fascinated by
- [37:15] The biggest opportunity and threat for marketers today
Resources Mentioned:
- Mark Wakefield
- Ferrero
- Ferrero Rocher
- Nutella
- Ferrero buys Nestlé brands
- Baby Ruth
- Kinder Joy
- Tic Tac
- Research on Purchase Decisions and Interview of Attest Founder and CEO
- The Long & Short of It: Balancing Short and Long-term Marketing Strategies
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Alan B. Hart is the creator and host of “Marketing Today with Alan Hart,” a weekly podcast where he interviews leading global marketing professionals and business leaders. Alan advises leading executives and marketing teams on brand, customer experience, innovation, and growth opportunities. He has consulted with Fortune 100 companies, but he is an entrepreneur at his core, having founded or served as an executive for nine companies.