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Brand Versus Brand by Nirmalaya Kumar and Jan Benedict E.M. Steenkamp
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Once upon a time, 'private label' was another word for 'cheap', 'generic', 'copycat'. But over the last ten years, leading retailers have completely reinvented private label, introducing products that sometimes beat manufacturer brands on quality and price, innovating on value, and building complete portfolios to give shoppers a choice of price points and benefits. Along the way, they have turned 'private label' into fully fledged brands in their own right.
To flourish in this new environment, manufacturers need to reinvent their brand strategies too. By partnering effectively with retailers they can embed their brands in their retail customer's marketing strategies. By focusing their resources on carefully chosen categories and markets, they can take traditional strengths such as economies of scale to new levels. And by innovating their innovation processes they can keep their brands attractive to consumers – and a 'must' for retailers to stock.
For manufacturers, there is no magic bullet. The secret of success lies in execution rather than grand plans.
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