"the competitive aggressiveness has increased."
"This plan takes longer. It's not as easy as throwing promotion funding out there,"
"But, again, we believe that is the way to both create value for our consumers and for our retail partners."
"somewhat distasteful but not a nonstarter."
P&G is cutting ad and promotion spending and reallocating funds to innovation and R&D, producing novelty products such as scalloped toilet paper, laundry detergent tiles, an AI-enabled toothbrush, and niche personal-care items. The company plans roughly 2% average price increases and intends to hold prices rather than match heavy competitor discounts, aiming to drive consumer trials and long-term value. CFO Andre Schulten acknowledged increasing competitor aggressiveness and said the approach takes longer than using promotions. OpenAI has attracted many hires from Meta, prompting internal discomfort, and CEO Sam Altman called advertising "somewhat distasteful but not a nonstarter."
Read at AdExchanger
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