SymphonyIRI: Brand value, not price, key to driving loyalty
CHICAGO — SymphonyIRI Group on Thursday released a brand report highlighting what elements help drive brand selection and brand loyalty.
“While most retailers and manufacturers will instinctively pull the lever to compete on price, it’s important to understand that consistently leading with price has significant negative impacts on brand equity,” SymphonyIRI SVP marketing John McIndoe said. “Rather, CPG leaders must harness the power of value. The battle for the shopper’s loyalty should not be dictated by low price, and winning CPG marketers are clearly getting this message.”
Brand loyalty actually has increased across 45 of the top 100 CPG categories during the past three years, SymphonyIRI Group reported. For instance, brand loyalty is quite high, at 87.6%, in the sports drink category. During the past three years, loyalty increased 6.5 points despite economic conditions and conservative purchase patterns.
Categories with the greatest lift in brand loyalty (2011 v. 2008) include:
Sports drinks (87.6% brand-loyal consumers);
Cleaning tools/mops/brooms (72.4%);
Shelf-stable dinners (66.9%); and
SymphonyIRI is offering a free webinar, entitled “Brand Loyalty: How Understanding Brand Equity Impacts Brand Loyalty and Delivers to the Top and Bottom Line,” at noon EST on Sept. 15. To register for the webinar, click here.
To download a copy of the report, click here.
Extra Dessert Delights turns to Facebook to decide newest flavor
CHICAGO — Extra is enlisting consumers to help it decide what should be the next Extra Dessert Delights flavor.
Through its Facebook page, consumers can select among bananas foster, root beer float and lemon square flavors. The winning flavor of this vote will be added to the Dessert Delights lineup of orange creme pop, apple pie, mint chocolate chip, strawberry shortcake and key lime pie. Voting ends Nov. 12. The new flavor is slated to hit store shelves next summer.
Extra Dessert Delights gum is available at retailers nationwide for a suggested retail price of $1.19 (single, 15-stick Slim Pack) and $2.49 (multi-pack with three, 15-stick Slim Packs).
Changing Channels — Hemp Hearts, SunButter spread and Krispy Kreme coffee
Seeds of revolution
Manitoba Harvest has introduced Hemp Hearts — shelled hemp seeds that can be sprinkled on salads, cereal and yogurt that are packed with protein and omegas.
Price: $2.99 to $14.99
Koffee and Kreme
Coffee and donuts are a natural combination, so Krispy Kreme is launching its Signature Coffee Blends at U.S. and Canadian locations and online.
SunButter’s sunflower seed-based spread offers an alternative to peanut butter for those with nut allergies.
Price: $5 to $7