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On this episode of Brave Commerce, Mizkan America’s president and COO Diego Palmieri and head of connected commerce Neha Mallik join hosts Rachel Tipograph and Sarah Hofstetter to talk about the CPG giant’s strategic approach to staying ahead in a dynamic market.
The conversation starts with Palmieri sharing insights into his two-decade career at SC Johnson. He explains that Mizkan, like SC Johnson, is a family-owned and operated company, highlighting the commonality in values and opportunities for learning.
Addressing the challenges facing the CPG industry, Palmieri identifies three significant headwinds: finding growth beyond pricing, coping with lingering inflation effects in the supply chain, and competing with private labels. He emphasizes the need for brands to focus on unique value, superior quality and distinctive brand equity to stand out in the market.
Mallik brings her perspective on Mizkan’s multifaceted approach to addressing these challenges: understanding consumer behavior, leveraging data analytics, optimizing pricing, investing in marketing and ensuring distribution efficiencies. Mallik elaborates on building brand loyalty through community engagement, loyalty programs and social media content, highlighting the importance of regularly updating and innovating product lines.
Palmieri and Mallik discuss Mizkan’s relationship with retailers, addressing the delicate balance between partnerships and competition. Mallik stresses the importance of social listening, community management and data utilization to understand consumer sentiments and collaborate with retailers effectively.
The episode wraps up with a conversation about the future state of the CPG industry and Mizkan’s perspective on the role of AI. Palmieri and Mallik share thoughtful insights into potential scenarios, discussing the impact of AI on brand loyalty and the possibility of coexistence between brands and private labels. They emphasize Mizkan’s deliberate and scientific approach to experimenting with AI to level the playing field among companies.
Key takeaways:
- Remain agile and adaptable in the face of market challenges.
- Leverage data analytics, social media and loyalty programs to build a community around your brand.
- Regularly update and innovate product lines to meet changing consumer needs.
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