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Ask someone why he would choose one brand or company over another, and he’ll likely say “price.” It’s certainly true that a competitive price will differentiate one choice from another. However, that doesn’t mean it’s the only way brands can stand out from competitors to win customers and (perhaps more importantly) their loyalty.
People don’t spend money as segments; they make purchase decisions as individuals. Marketers need to reach consumers at this individual level with strategies that focus on the personal interactions between the brand and its customers. It’s not a small undertaking, and it’s quickly become a competitive necessity.