Are Product Margins Merely Margins of Error?
Packaged goods companies, like P&G and Unilever, continue to fight for every drop of margin they can squeeze out of a crowded category. Traditionally, the brand was powered forward through product innovation, research and development. New advertising campaigns rolled out when product improvements warranted them. Pampers, LUVS, Tide, ALL, and Mr. Clean are all a case in point. Preference and margins cannot be found in product enhancements and efficacy — these two improvements are simply the cost of doing business. In today’s crowded market space your preference and margins stem directly from your brand. In reality most brand marketers and brand managers are actually product managers and are hard pressed to describe their own brand in any terms other than banal category benefits. This pit-fall is not to be unexpected. Universities and colleges fail to understand the intricacies of a brand and thus do not prepare future brand executives accordingly. The famous brand management pathway at
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