Are your consumers ready to be bribed?
Creating loyalty in the highly competitive packaged goods world of today is a huge challenge. In particular, most food brands are up against copy cat retail own label products sold at a cheaper price.
The true test of loyalty is perhaps how easy it would be for a retail own label look-a-like to "bribe" away one of your consumers with a lower price. Check out the results for three strong brand below. This comes from some research done by Superbrands that I used in the brandgym books.
The results for Heniz are especially impressive. Almost 2/3 of consumers would not switch to own label at any price. Walkers and Haagen Dasz also do well with around 40%. All these brands share a commitment to product excellence and innovation. And staying loyal to the things that made them famous. In the case of Heinz, they are right now pushing the authenticity and naturalness of their tomato ketchup.
How well would your brand do in the own label bribe test?