Talk: Winning Through Laziness; Is Private Label Taking Your Business?
Review
On 14th October the Museum, in collaboration with the British Brands Group, hosted Tony Durham, CEO of Tony Durham Consulting Limited, as he explored Winning Through Laziness: Is Private Label Taking Your Business?
Mr Durham, with 35 years’ experience in retail and shopper behaviour at P&G, first highlighted that most consumers purchase on auto-pilot, basing decisions on irrational factors. With the help of a few tests, Tony quickly demonstrated the limitations of short-term memory, consumers usually able to recall just 5-7 items simultaneously! It’s therefore critical that brands use packaging as their most valuable primary recognition asset at the point of purchase. Tony explained that “your brand will win or lose depending on the comparison you allow”. It is through packaging that brands can be favourably compared, and effectively compete with private label.
The evening ended with a Q&A session from an attentive audience, including representatives from the British Brands Group, pi global, GSK and McCormick.
The Museum’s professional development programme is generously supported by The Marketors’ Trust @marketors
