It is too
easy just to give up and say "price is the only thing that
matters to our customers, there's no reason to think about branding".
You may believe that you work in a commodity market, but it's never
just about price. Learn a lesson from Morton Salt
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Back in
1848, when Morton Salt was founded, salt really was a commodity.
It was sold loose, in bags, and would quickly become hard and lumpy,
especially in warm damp climates.
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It wasn't
until 1914 that Morton Salt introduced a distinctive 26oz round
container with a pouring spout. They dramatized the benefit of
the free-flowing salt with a picture of a little girl sheltered
under a large umbrella with the salt can under her arm and the
now famous slogan:
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'When it
rains, it pours' |
| This image, and the slogan (which
is based on an old English proverb) have been used consistently for
almost 100 years. |
As a result
Morton Salt is the number one brand of salt in the US. For every
two cans of salt sold in the US, one is a Morton Salt can, and
it sells at a $0.20 price premium over other brands and private
labels.
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As a former
Vice President of Marketing at Morton Salt said...
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"The
answer turned out to be simple. We found that the successful process
of marketing commodities
requires value added benefits... and if you are the first to add
these benefits, and support them, your chances of success are far
greater than if you follow someone else." |
Even selling a commodity like
salt, there is the opportunity to build a brand and create revenue
and enduring value for the business. |
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