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Some Brands are winning over consumers, but are they providing real value? |
Everyone agrees that Brand equity is something precious to hold on to and can sometimes help you ride out the rough times, but in times of crisis it is also true that our fickle consumers will become treacherous and turn their backs on their favourite product, in search of a cheaper or fresher looking.alternative.
In a recent Bigger Picture Market survey, some of the shifts in New Zealand's Brand Leaders and Losers have come as somewhat of a surprise in a country that relentlessly adores home brands and shuns outsiders, and does so in a consistent manner - year in, and year out.
Take, for example, The Warehouse - "Where everyone gets a bargain". Back in 2005, when I last visited these shores, The Warehouse was best known for selling "cheap and cheerful" goods (to be polite). Walk into any of their glistening red warehouses today and you'll be met with...yes, you guessed it: "cheap and cheerful" goods again. Surely a successful model that has stood the test of time?
Well...yes and no. This latest survey actually ranks the country's largest listed retailer
well behind many of its competitors when it comes to delivering value. Market Research firm Big Picture surveyed 300 New Zealand consumers last
week, asking them to rate 44 well-known brands in terms of their value.