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Did You Know?
Morton Salt: It's never just about price
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…
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.
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:
'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.
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.
Next time you hear someone saying "Our
customers only ever think about price" just
remind them of Morton Salt. There is always a way
of creating brand value.
Brand Manual
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