OWN BRAND PACKAGING
A cut price wolf in designer clothing?
Nick Burgoyne looks at the increasing trend for own brand pharmaceuticals and what this means for their packaging
You can spot the own brand product by its dowdy packaging, right? It’ll be the one with the garish blue stripes or the cheap and cheerful labelling?
Today, own label products are voracious competitors, increasingly aping the look and feel of the big name brands and spreading their tentacles into every sector, including pharmaceuticals.
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Nick Burgoyne has enjoyed two decades in the industry with client- side roles in sales and marketing, as well as leading his creative agency, White
Communications Group. With a Masters Degree in Strategic Marketing, he’s passionate about getting brand strategy right to create campaigns that make a difference
The challenge for brands grappling to maintain market share in an increasingly value-driven economy, is to continue to evolve and innovate to maximise the advantages a trusted name can bring. Branding has been used for centuries as a way of distinguishing one producer’s goods from another. An understanding of customer- based brand equity is essential in order to fully understand branding and its advantages. In essence, customer-based brand equity is the differential
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rong. Those are the shelves of history you’re thinking of.
effect that brand knowledge has on consumer response to the marketing of the brand. And that’s the key consumer response.
The continued economic downturn in the UK has had a significant effect on consumer behaviour, with many turning away from the more expensive branded items and towards similar own label options in order to save money. This has led to increased investment and development in own brands, as retailers compete for consumers. So, today, in whatever category you care to choose, whether cereal, soup or cough syrup, branded products are competing for your attention. And the brands are invariably more expensive than their generic or own label counterparts.
sought to build and protect their own brand equity, own label products must now be of good quality, or at least live up to the standards suggested by their branding – Tesco Value range versus Tesco Finest for example. As a result, the own-brand market has enjoyed significant growth in recent years, rising by 51.7 per cent since 2007, to reach £118.13bn in 2011. Key Note estimates that nearly 40 per cent of total retail sales in the UK are now represented by sales of own label goods. It’s been a quiet but widespread revolution - according to market researchers Mintel. 2011 saw, for the first time, more own-label products launched in the UK than branded goods.
OTC medicines and Pharmacy medicines are not immune from this trend. In the last 20 years
“The automatic assumption that the higher price meant higher quality has now faded.”
The automatic assumption that the higher price meant higher quality has now faded. Particularly since retailers have
an increasing number of brands have moved from traditional pharmacy outlets to the supermarket and forecourt
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