Marketing is about creating value. Marketing creates value for customers, for employees, for shareholders, and for the community. At its core, marketing begins with creating value for customers. If there is no value for customers, there can be no value for other stakeholders. Customer-perceived value is marketing’s connective tissue crossing geography and time.
Price hikes are par for the course these days. Brands from Nestlé (maker of Kit Kat, Nespresso) Unilever (maker of Dove Soap, Ben & Jerry’s, Hellmann’s), Procter & Gamble (maker of Tide, Swiffer), Mondelez, and Reckitt Benckiser (maker of Air Wick, Lysol and Durex condoms) are raising prices.
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...
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.
