With a 40 per cent 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 brands achieve the Power Brand status at a time when consumers are going through a cost of living crisis and companies 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 article, GfK experts provide five key recommendations for businesses interested in moving into the Power Brands arena.