June 18, 2009

"Food for thought"

"Despite what many marketers and retailers may think, it’s not all about price — consumers find value in feeling smart about purchase decisions and investing in brands they trust."
-- Andrew Benett, Global Chief Strategy Officer of Euro RSCG Worldwide

1 comment:

Elizabeth said...

Yes, yes! I agree with this quote. This is a lesson Martha Stewart learned when she first got started selling pies at a fair. Her pies weren't selling at really low prices because no one thought they were quality pies because of their low price. But when she increased the price, pies started flying off the table. People were willing to pay the premium price because they felt they could trust that the pies must be good because they were higher priced. Value isn't necessarily found in low prices but the value added of the brand, the experience, and everything associated with the product.