online marketing psychology

August 30, 2011

Nobody Cares That You're 60 Cents Cheaper*

You've got a quality brand, people know you, like what you've got to offer and are willing to pay extra for it.

Enter cheaper, private-label brands. 
Your market share comes under pressure.

What do you?
  1. People are paying extra for your brand, find out why and see if you are still worth this premium.
  2. In your advertising, highlight these benefits. 
  3. Don't mention the price. You don't want to play by your competitors rules.
  4. If your price is too much of a barrier, maybe think promotions or couponing.
*Lessons from the marketing of paper towels.

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