In an effort to turn the tide, Kraft Heinz's new CEO Miguel Patricio intends to pursue creative marketing. To that end, he returns to the company's primary flagship product: ketchup.
Kraft Heinz wants ro revitalise its ketchup with some bold marketing campaigns. The idea is to boost the sales of the popular sauce, as the food concern has been struggling with enormous difficulties for some time. Disappointing results and an inquest into the company's bookkeeping resulted in the dismissal of CEO Bernardo Hees back in April. He was replaced by Miguel Patricio, who was marketing director at AB InBev for six years but also worked for giants such as Coca-Cola and Philip Morris.
Patricio realises the magnitude of the challenges he faces: Kraft Heinz will have to cut 1.3 billion euros of costs every year. It's almost certain those cuts won't be happening in the market department, though: Patricio wants more creative marketing, especially for top brand Heinz Ketchup. He cites the recent launch of Edchup as an example. Edchup is a ketchup that was created in collaboration with singer Ed Sheeran: "We need more of this," the new CEO stated.
Analysts do believe Patricio is capable of turning the tide for the food giant. They laud his enormous creativity in particular, which got him multiple awards for AB InBev at the famous Festival of Creativity in Cannes.