Branding And Packaging Strategies Of Equate Essay example
G.K. Chesterton, a late 19th and early 20th century journalist from London observed “Thrift is poetic because it is creative; waste is unpoetic because it is waste” (Goodreads, 2014). In times of recession, consumers are influenced by thriftiness, making difficult decisions on necessity versus luxury. With the largest generation currently in control of the majority of the marketplace, marketers have focused on a necessary creativity to meet the lifestyle expectations of millennials (Grewal & Levy, 2014).
To keep up with the demands of the largest target market, retailers like Walmart are utilizing their financial capacity and store-front space to expand and develop their private-label brands (Grewal & Levy, 2014). Today’s store brands have to be different than the black and white generic labels the Generation Xers grew up with in the late 1970s through early 1980s. Expansion of the marketing concept requires accommodation of the average American consumer, millennials. In the U.S., marketers for Walmart are successfully expanding revenue by marketing to millennials through the Equate store brand through recognition and perceived value.
With the goal of expanding revenue, Walmart has focused in recent years on building its store brand or private-labels. One of these brands, Equate, is contracted with Vi-Jon, a manufacturer of private-labels experienced in increasing market share with consumers in the U.S. (The…