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