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Price or quality more important in your buying decision?

Price or quality more important in your buying decision?. Leesa Viveiros Nick Layton. The Price has to be Right. IRI poll 86% of shoppers believe price will be an important consideration before making a purchase this year Marketers need to talk deals and stress savings Del Monte

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Price or quality more important in your buying decision?

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  1. Price or quality more important in your buying decision? LeesaViveiros Nick Layton

  2. The Price has to be Right • IRI poll 86% of shoppers believe price will be an important consideration before making a purchase this year • Marketers need to talk deals and stress savings • Del Monte “Stretch Campaign” • Wal-Mart

  3. Define Value Beyond Price • Steak n Shake Co. “Talk Up The Taste” TV/YouTube campaign • Dollar Tree has been replacing discretionary items with food offerings and beverages • Chipotle and Panera Bread focus on quality over price points during recession

  4. Define Value Beyond Price • Consumers value more than just savings • Chipotle added to its “Food with Integrity” • Chipotle sponsors Food, Inc. documentary

  5. Word to the Wise • 2009 Social Media exploded, putting a greater incite on positive WOM • WOM from families, friends, and co-workers is more credible than advertising messages • 39% of consumers often read online consumer-generated reviews before making a purchase • “My Chipotle” campaign

  6. Word to the Wise • LululemonAthletica Inc. Yoga Retailer • Free Yoga Classes • Push for social media presence • Invest in social media, find inventive ways to show customer appreciation, listen to and interact with consumer and be authentic

  7. Questions Is WOM advertising increasing? Is interactive social media increasing? Does these types of promotions increase brand loyalty or hurt it?

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