Page 4: Managing the product portfolio
One of Kraft's aims is to ensure that its products become consumers' first choice. To achieve this, Kraft has identified and developed a range of distinctive key brands which are known within the company as its Power Brands. Kraft concentrates on the innovation and rapid development of these Power Brands, with a view to having new, exciting products 'out there, now'.
The major element in managing and developing these Power Brands to ensure that they provide more value for consumers, is to use the experience of key managers to make important planning decisions about their future.
Fixing tight deadlines for product launches and then achieving those deadlines calls for careful, co-ordinated planning to ensure that the:
- necessary production capacity is available
- marketing effort is ready
- sales and supply chain effort is ready
- funds to support the venture are in place
- whole exercise stays within budget.