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How To Reach The New Consumer

How To Reach The New Consumer. Chris Kanno & Hannah Lucich. Step 1 in reaching the consumer. The Price has to be right 86% believe price is an important consideration in shopping ex: Del Monte, 60% ROI in incremental revenue ex: Alaska Walmart value messaging

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How To Reach The New Consumer

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  1. How To Reach The New Consumer Chris Kanno & Hannah Lucich

  2. Step 1 in reaching the consumer • The Price has to be right • 86% believe price is an important consideration in shopping • ex: Del Monte, 60% ROI in incremental revenue • ex: Alaska Walmart value messaging • ex: Indianapolis' Steak n Shake Co's $4 meals • Consumers believe they are entitled to getting better prices

  3. Step 2 • Define value beyond price • price isn't everything, "brands that best meet that complete brand-value set are going to be the ones that win out" - Steve Cartozian, chief strategic innovator at Arlington Heights • ex: Steak and Shake Co. also promoted the value of its food • companies are stressing functional value • ex: Dollar tree getting rid of discretionary items for food items for repeat business

  4. Step 3 • Word to the Wise • It's important for marketers to create positive word of mouth • Chipotle created "My Chipotle" campaign • Lululemon Athletica was affected by the recession so they added free classes and increased employee training

  5. Discussion Questions • Do you believe Chipotle and Lululemon successfully used word of mouth to increase awareness? • When you guys buy things do you factor in most if not all of these things consumers are trying to push?

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