1 / 5

Connecting with the New Consumer: Strategies for Success

Learn key steps to reaching the modern consumer effectively, from pricing strategies to creating brand value beyond cost and leveraging word of mouth. Explore real examples and discussions on consumer preferences and behaviors.

wilda
Download Presentation

Connecting with the New Consumer: Strategies for Success

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. How To Reach The New Consumer Chris Kanno & Hannah Lucich

  2. Step 1 in reaching the consumer • The Price has to be right • 86% believe price is an important consideration in shopping • ex: Del Monte, 60% ROI in incremental revenue • ex: Alaska Walmart value messaging • ex: Indianapolis' Steak n Shake Co's $4 meals • Consumers believe they are entitled to getting better prices

  3. Step 2 • Define value beyond price • price isn't everything, "brands that best meet that complete brand-value set are going to be the ones that win out" - Steve Cartozian, chief strategic innovator at Arlington Heights • ex: Steak and Shake Co. also promoted the value of its food • companies are stressing functional value • ex: Dollar tree getting rid of discretionary items for food items for repeat business

  4. Step 3 • Word to the Wise • It's important for marketers to create positive word of mouth • Chipotle created "My Chipotle" campaign • Lululemon Athletica was affected by the recession so they added free classes and increased employee training

  5. Discussion Questions • Do you believe Chipotle and Lululemon successfully used word of mouth to increase awareness? • When you guys buy things do you factor in most if not all of these things consumers are trying to push?

More Related