Sir, With the new plans for minimum pricing (The Grocer, 10 March), the marketing strategists at the big alcohol brands will be busy revising their plans. They may as well rewrite them. Minimum pricing will make price-based promotions a thing of the past.
Loyalty, and other ways of creating differentiation will now have to be the focus. We expect to see more innovation, cross-brand promotion and added-value promotions, too.
Retailers will also have to reduce their reliance on promotions to drive footfall around key events.
The battle will no longer be fought on absolute price, but on the consumer perception of whether the product provides value. Driving stronger brand loyalty will be critical.
David Ware, director of grocery business unit, SymphonyIRI