... latest quarterly results.
Mondelez, whose subsidiaries include Cadbury and Nabisco, reported a lower-than-expected quarterly profit this week, due to the current strength of the US dollar and weak demand in Europe, driving down Mondelez's share value by 7.4% to $38.86.
Two years ago the snack maker introduced a severe cost-control budgeting strategy in a bid to deliver $3bn in gross productivity savings over three years.
This strategy compelled brand managers to adopt zero-based budgeting, resulting in media spending plans starting from scratch as opposed to being based upton the previous year’s spend - thereby conferring advantage on those marketers with with the best strategies.
Says Ms Rosenfield: "“We'll continue to reduce overheads by leveraging zero-based budgeting….we're beginning to institutionalise our approach to cost management.”
Read the original unabridged TheDrum.com article.
[Estimated timeframe:Q1 2016]
MTT log date:
Feb 05, 2016
All data sources are attributed with links to the original insight. The insight
is then summarised and, where appropriate, enhanced with additional information.