Perception issues and boosting budgets: Your Marketing Week
At the end of every week, we look at the key stories, offering our view on what they mean for you and the industry. From why perceptions can’t replace real data to what drives marketing budgets, it’s been a busy week. Here is my take.
Data versus intention
If you ask Google, “Are young people drinking less?”, you’ll be served lots of news stories over the last three years based on surveys of Gen Z, as well as some analysis as to what sits behind this move towards moderation. Search for “Are young people drinking more?” and you get thought pieces, analysis and news stories indicating that they are. So which is it?
Whatever the answer, whether prospective or existing customers are buying as much of what you’re selling is of huge interest and consequence to companies whose success depends on it.
Unsurprising, then, that Pernod Ricard CEO Alexandre Ricard decided to address the issue in the wake of announcing a global sales decline. In a call with analysts, he questioned whether those that had spent years parroting “Gen Z are drinking less” had it right, pointing to data that suggested otherwise.
