Brand Value & Pricing

Wars always have casualties, but may not always have a winner. This also goes for business wars, particularly when successive price cuts have companies selling below cost.

Value is comprised of four key elements: price, quality, service and convenience. Getting value from a product or service has traditionally meant some level of compromise. If I want the lowest price, I sacrifice quality. If I want the most convenient option, I need to pay a bit more. However, the modern consumer—equipped with more options, tools and resources than any consumer before—has grown accustomed to a marketplace that assures them they don’t have to compromise.

Levi Strauss, the 167-year-old blue jeans company, is fast-tracking its brand-business strategy to address our changing retail habits. The venerable brand has a great deal of incentive to do so, as many retail establishments are struggling or are facing Chapter 11 bankruptcy. Levi Strauss has several plans that focus on how we will be shopping from now on into the future. As with other retailers, coronavirus pandemic has accelerated the implementation of these strategies.

Branding Strategy Insider helps marketing oriented leaders and professionals like you define and grow brand value. BSI readers know, we regularly answer questions from marketers everywhere. Today we hear from Simon, a Startup CEO in London, England who has this question about pricing strategies.

It’s a fairly common story. A category of goods or services hits its stride.