Successful companies continually invent new ways to garner and process information to discover missed opportunities and understand market shifts. Today, more businesses are looking for outside help to determine new strategies to increase their market share in a volatile industry.
Denise Morrison is one of only 25 female CEOs in the Fortune 500. She took over control of Campbell in 2011, which includes brands such as Campbell's Soup, Prego, Pepperidge Farm, Spaghetti-O's and V8.
The company has become iconic for Americans, with its products immortalized by Andy Warhol and representing the perfect rainy day meal for millions. But as customers' preferences shift, Morrison is responsible for keeping the company in line with consumer demands.
"We're changing to deliver on consumers' expectations because consumers are changing," Morrison told USA Today. "We noticed a series of seismic shifts with the consumer and one of them is about health and wellness."
To meet their customers needs, in the past two years Campbell has purchased organic baby food maker Plum Organics and Bolthouse Farms, a carrot producer that also sells salad dressings, juices and smoothies. But in the face of under-performing stocks, Morrison continued to seek new ways to improve profitability.
The company is now focusing on new means of communication to reach shoppers on social media as well as in the supermarket, and creating new products that appeal to customer's changing tastes. In a time when U.S. soup sales are falling flat, these new strategies are key to overcoming the company's growth challenges.
During times of change, many organizations, especially large companies with an extensive history, become bogged down in internal politics, and can often benefit from the insights provided by professional consultants. At Xbig6, we provide leading-edge thinking for operational efficiencies, supply-chain optimization, and back-office support tailored to the industry.