As Marketing Daily
blogged back on Oct. 17, Jim Stengel, the widely respected, 25-year Procter & Gamble advertising veteran, is
opening a new venture Monday that will promote "purpose-based marketing," which he says is about defining what a company does -- beyond making money -- and how it can make its customers' lives better.
He is also writing a book, with the working title "Packaged Good," that will expand on the idea.
Stengel tells Suzanne Vranica that Pampers was able to gain market share a few years
ago through a repositioning that utilized the concepts of purpose-based marketing. It started to offer parenting advice from experts and also did research on why babies don't sleep -- a study that
eventually yielded a design change in Pampers to give them a more cloth-like feel.
There are skeptics, such as Jack Trout, about the "touchy-feely" approach in these tough times, but
Stengel maintains "you can communicate value and build emotional equity at the same time."
Read the whole story at Wall Street Journal »