Thursday, 27 October 2011

King Of Shaves Project and Bargain Crazy Consumers

I have just come back from a really interesting lecture and focus group with Tim Wright, the Commercial Director of King Of Shaves. My next University project is about launching the King Of Shaves brand into the Asian market, so talking to him was extremely useful. It is a group project and we have to write a 12,000 word marketing report so its going to be no mean feat but I am really excited and inspired for it now.

One thing he was talking about, which I found particularly fascinating, is how everything in the UK is focused on price. Think about it, hardly anyone has brand loyalty like they used to. How many people buy exactly the same shampoo every time they run out or the same brand of shaving foam, it is all about what is on offer. The UK is a population obsessed with a good bargain. I know I am completely guilty of it myself. I need a new shower gel and I go into Superdrug and find the cheapest brand that is on offer, I have no preferences! The British consumer is driven by promotions, the rush of getting a bargain and saving money is a drug we can't get enough of. It's not surprising to hear that some products only sell when they are on promotion. A Muller yogurt can increase its sales by 70% when it is on offer as opposed to any other time. It is a constant yo-yo-ing of sales. I take this kind of behavior as completely normal in a modern society where we all want to get the best deal and assumed it was the same all over the world. However, this is not the case. There is no other country in the world that is as obsessed with price as we are. Although it is obviously still a huge factor when choosing a product, many other countries like France, Japan and China are much more focused on the brand policy and the quality of the products. Therefore, it is extremely difficult to be a brand in the UK for the huge price competition going on. And of course, it will only get worse with time with brands trying to sell cheaper and cheaper. What will this mean for the sourcing of the products, and will everything just become smaller and smaller (we all know about the sizes of Cadbury Cream Eggs nowadays!) Will brands forget their morals and just strive to be the cheapest with constant promotion, who knows?!

What do you think? Are you always looking for a bargain and the product on promotion or are you a dedicated brand follower, would be interesting to know!

Now for me, I'm off to research the male Asian shaving market! :)


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