James Stengel, a Franklin & Marshall grad like me, is set to embark on a new journey in his storied marketing career. According to The Wall Street Journal, the outgoing global marketing chief at Procter & Gamble and 25-year P&G veteran is opening Jim Stengel LLC on Monday.
Stengel will try to persuade companies to buy into “purpose-based marketing,” which Stengel says is about defining what a company does — beyond making money — and how it can make its customers’ lives better.
“Marketing is in need of a major overhaul,” and “trust in brands is at an all-time low,” says Mr. Stengel, who is funding the venture himself.
Stengel isn’t the only one thinking about such matters. Austin-based, GSD&M, is all about “purpose-based branding.”