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With a 40% share of worldwide revenues and an edge in terms of brand strength, price elasticity and customer loyalty, Power Brands are a status that many brands seek to achieve. The question is: how do businesses do this at a time when inflation-hit consumers are increasingly pressed to find more budget-friendly alternatives?
The opportunity is out there for brands that wish to seize it. Adopting the right strategies will be pivotal to success. In this interview GfK experts Madalina Carstea, Head of Global Solutions, Marketing & Consumer Intelligence at GfK, and Jutta Langer, Vice President of Consulting at GfK, provide five key recommendations for businesses interested in moving into the Power Brands arena.
Read our full report to delve into our data-backed insights and discover how your brand could make the change. Uncover how Power Brand consumers operate and what they want from your business. Understand how to position your brand identity, product mix and pricing to successfully build a new strategic direction.