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.”
Hanging A Shingle On Purpose
I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. Today—after working for seven agencies in five states—I am now head of brand strategy and creative direction at Bonehook in Portland, Oregon.