How pricing can drive branding and profitability
Nick Wreden
Every branding book restates the cliché: 'Branding supports higher prices.' That's absolutely true. But the across-the-board statement leaves out a lot. How much higher pricing? 5%? 10%? More? What can companies do to their brands to support higher pricing? And what about worldwide brands like Tesco, Wal-Mart and others that compete on being the lowest-cost provider?
The issue of pricing becomes even more difficult during brand development. Should you go for premium pricing, and risk losing customers and market share, while opening a low-price door to competitors? Should you try to...