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Chris Blench

๐Ÿ‘ค Speaker
15 total appearances

Appearances Over Time

Podcast Appearances

Marketplace
A fuel-driven economy

That's Chris Blench, CEO of Mavericks Manufacturing Partners, a company near San Diego that makes parts for nuclear power plants and the military.

Marketplace
A fuel-driven economy

Blench says the company's playbook is simple.

Marketplace
A fuel-driven economy

This move of consolidating and simplifying in the grocery industry has been going on for years now.

Marketplace
A fuel-driven economy

Remember Procter & Gamble, the personal care brand, used to own Pringles and Folgers Coffee.

Marketplace
A fuel-driven economy

Selling off the food brands makes sense, says Russell Zwonka, who directs the food marketing program at Western Michigan University, because soap and mayonnaise are two really different products to sell.

Marketplace
A fuel-driven economy

And if Unilever was going to drop one, the food side just isn't growing much.

Marketplace
A fuel-driven economy

Part of that is a change in consumer buying, says Ricky Volpe, an agribusiness professor at Cal Poly San Luis Obispo.

Marketplace
A fuel-driven economy

Meaning we're spending more time in the fresh produce and deli sections, less time buying boxes of stuff.

Marketplace
A fuel-driven economy

The other trend?

Marketplace
A fuel-driven economy

Meaning we still know Hellman's mayonnaise, but we're not committed to buying it, especially if the generic store brand option is a dollar cheaper.

Marketplace
A fuel-driven economy

So, Volpe says, good idea for Unilever to get rid of it, but also a good idea for McCormick to pick it up, says Eric Chafee with Case Western Reserve University.

Marketplace
A fuel-driven economy

For McCormick, adding mayonnaise is a pretty natural progression to their spice and sauce niche, says Bobby Gibbs with the consulting firm Oliver Wyman.

Marketplace
A fuel-driven economy

In the short term, this won't change much for consumers.

Marketplace
A fuel-driven economy

But Volpe with Cal Poly says as more brands consolidate power in their corner of the market, they also have an easier time raising their prices.

Marketplace
A fuel-driven economy

I'm Kaylee Wells for Marketplace.