Is Unilever on The Right Track with its “Brands with Purpose” Strategy?
Alan Jope, CEO of Unilever, has pushed each of its 400 brands to have a social or environmental purpose. As its stock price growth has trailed other consumer product companies like P&G and Nestle, Wall Street analysts have questioned Unilever’s focus on “purpose” versus things like innovation and cost management. I warn marketers against taking advice on how to manage their brands from Wall Street analysts. And, yet, we do have to question if all brands can have a purpose and what is the right way to architect a brand with purpose.