Something brand owners strive for is that elusive magic of being loved by consumers. Brands like Apple, Google, Southwest Airlines, and others have earned enduring positive regard among consumers, and those companies outdo their peers in part because of the brand equity they have built. But what about brands people don’t like? Oddly, some of those survive quite nicely and even prosper. […]
A surprising commentary by Walmart CEO Mike Duke reinforced the theory that less affluent consumers operate on a payday-based buying cycle (see When Are Consumers Most Receptive). According to Duke, “Purchases are really dropping off by the end of the month even more than last year.” Walmart shoppers often are paid at the beginning of the month and stock up on goods then. […]
We think of brands as amazingly powerful. People prefer whatever cola they are drinking, as long as it’s labeled Coca Cola. People pay lots more for a Ralph Lauren Polo shirt than a generic shirt of identical quality. And while the brand rarely changes, slogans are treated as ephemeral and tend to be changed much more frequently. But, to resurrect an old Coke motto, what if a brand’s slogan was the REAL thing?
Think of a brand that is all about saving money… how about Walmart? Surprising research shows that consumers exposed to the Walmart name might actually spend less than those exposed to the store’s current slogan, “Save money. Live better.” This curious finding was replicated with other stores and slogans by a team of researchers from Miami, Hong Kong, and Berkeley. […]