Which brand of cola would you rather drink: Pepsi Cola or Mila Cola? My guess is that you’d prefer to quench your thirst with Pepsi Cola. How appealing is Pepsi? You’ve probably never even heard of Mila Cola. In fact, I made that brand up.
Now let’s take a step back in time and imagine a choice between Pepsi Cola and Coca Cola. How appealing is Pepsi now? Chances are the appeal of the brand took a dive when the choice context changed.
Ouch. Last week taught me a painful lesson in humility. I learned I was just using half the power of a persuasion principle I was convinced I’d mastered perfectly: social proof.
Social proof works. Period. No question about it.
Imagine you have just developed your own smashing brand. The story behind it is inspiring; while traveling through Nepal in the summer of 2015, just after the destroying earthquakes took place, you came across some homeless shelters for women. All these women were busy making beanies, hoping tourists would buy them. You decided to help them by creating a brand around it, with a full B Corp Certification.
Pricing directly affects the consumer’s opinion about a product. A slight difference in price can have a major impact on how the consumer feels about buying - and even his or her opinion on the quality of - the product.
Now, let’s discover if, why and how you should change your prices.
It’s every company’s worst nightmare: a product recall. Unfortunately, most consumer brands will be pulled out of the store shelves at least once in their lifetime.
What does a brand stand to do when its frozen pizzas are pulled from the store shelves because it makes people vomit? Sitting with the baked pears (which is a Dutch saying for: to just leave the bad situation as it is), won’t help them. It’s wiser to have a clear post-recall strategy in place, beforehand. But how to devise such a strategy?