?? The Creativ Brief: Price VS. Consideration
Wes Morton
Founder & CEO of Creativ Strategies | Full-service Marketing-Technology solutions for Creative Companies | Expert marketing consulting delivering creative, SEO, copywriting, PR, research, media, and tech solutions
The more something costs, the more consideration one needs before they purchase.?
A bag of chips takes less consideration than picking out a nice restaurant. A new toy is considered less than a new piece of furniture. A vacation destination less than a new car. Leasing an apartment less than purchasing a house.?
As the cost rises for any purchase, the amount of convincing from the advertiser also increases.?
This is the fundamental difference between marketing in major product categories such as CPG, QSR, retail, auto, and B2B.?
Large ticket items like auto or enterprise B2B have extremely long sales cycles while QSR, retail and CPG remain extremely short.?
The marketing principles of differentiation, message, value, and others remain the same, but as price increases one needs to tip the scale with more proof points to convince a consumer.?
3 Stories Dominating Media and Tech Headlines
Students opt for ad-supported Subscriptions. According to UNiDAYS’ Streaming Report, the top 3 factors that Gen Zers use when choosing a streaming service are Price 93%, quality and availability of content (88%), and user Experience/Streaming Quality (58%).?
Why it matters: Not surprisingly, cost sensitive Gen Zers are increasingly choosing ad-tier models to stream their content due to the reduced cost.?
Additionally, Gen Zers discover content in newer ways than previous generations. Students trust recommendations for new content from social media the most at (68% for viewing, 62% for listening) followed by word-of-mouth (66% for viewing, 55% for listening) and lastly traditional review sites (21% for video content, 10% for music content).?
DOJ vs. Google is heating up. Google is in a legal battle with the Department of Justice over Google’s 92% market share on web browser search for major tech platforms and new products. The DOJ has accused them of squashing competition with their monopoly power.?
Why it matters: The DOJ argues that Google has illegally maintained a monopoly in the search engine space through an assortment of exclusive deals with major tech platforms (i.e Apple’s iphone and Safari), while Google argues that its search dominance “is a result of success in market competition”.?
Being the first U.S case containing serious allegations against a tech giant, the Google vs. DOJ battle will mark a significant precedent for tech cases to come.?
Warner Bros Discovery will add a sports tier to their Max streaming product in 2024. Warner Bros Discovery will launch a new “Bleacher Report” add-on package to Max on October 5th, offering a promising “300” live games a year.?
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Why it matters: Welcome back to the bundle. In addition to sports, Max will add CNN news to their streaming service. The streaming service will boast premium entertainment, drama, reality, sports, and news all for one monthly fee. If that sounds suspiciously like a bundle, trust your instincts.?
Client Spotlight - Creativity and AI in Ad Age
Greg Harrison, Chief Creative Officer of MOCEAN, was featured in Ad Age this week on the need for industry standards and creativity in AI.?
Stat of the Week - B2B Marketing Budgets
Marketing budgets have consistently shrank overall as a percentage of revenue for B2B brands. Some of the reasons for this could be:
This has necessitated marketers and advertisers to prove value as budgets get trimmed.?
One Fun Thing - The Team Goes to the B2B Marketing Expo!
The Creativ Strategies team was joined by our insights partner, CEO Vibhu Bhan of talkAItive . We met some amazing new people and businesses along the way!