321: Brand Building and Revitalization with Ferrero’s Mark Wakefield

Mark Wakefield, senior vice president of marketing of 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.Alan and Mark 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 TicTac, Kinder Joy, Baby Ruth, and the premium chocolate, Ferrero Rocher.In this episode, you'll learn:Steps to revitalizing a nostalgic brandHow Ferrero is capitalizing on the “premiumization” trendThe importance of understanding customers’ social and psychological motivationsKey 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 todayResources Mentioned:Mark WakefieldFerreroFerrero RocherNutella[Ferrero buys Nestlé brands](https://www.confectionerynews.com/Article/2018/05/31/Ferrero-to-merge-Ferrara-and-Nestle-US-candy-overhauling-Butterfinger#:~:text=The acquisition of Nestlé US,%2C BottleCaps%2C Spree and Runts.)Baby RuthKinder JoyTicTacResearch on Purchase Decisions and Interview of Attest Founder and CEOThe Long & Short of It: Balancing Short and Long-term Marketing Strategies Become a member today and listen ad-free, visit https://plus.acast.com/s/marketingtoday. Hosted on Acast. See acast.com/privacy for more information.