Inflation usually occurs when the supply of money is more than the availability of goods and services. This increases the cost of raw materials, production costs and utilities. For brands to sustain, brands are forced to up pricings, budget cuts, innovation postponed, advetising on hold…
Lessons that brands can learn from successful brands that thrive despite inflation
(a) Emphasize on value not pricing. Price brands compete on price all the time but not for branded brands. Inflation is home court for price brands, price brands focuses on pricing. Branded brands must stand on their branding, their value of their product to win the game of inflation.
(b) Keep branding to maintain continuity, do not go quiet. Branded brands should never be quiet during an economic downturn, but instead talk louder in any marketing channel the brand has. Build momentum, remember branded brands are in for the long haul not a sprint.
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