Squeeze more $$$ out of your brand name

Have you ever heard of Glyphosate? I hadn’t until I went to the hardware shop looking for something to kill weeds. I knew Roundup would do the trick. I’d heard the name and used it occasionally over the years. I can remember ads for Roundup where weeds ‘push up daisies’ (Get it?). The Roundup brand has almost become a verb in the landscaping industry.  To ‘Roundup’ is to clear grass off a patch of ground.

I was about to reach for the Roundup when I paused and read the active ingredient. It’s Glyphosate. Just below the Roundup was another brand of weed killer called Pestmaster. Pestmaster’s active ingredient is also Glyphosate. Well, I thought as long as they are both the same I’ll take the cheaper of the two.

Working in advertising and marketing I expected the branded product to be more expensive. What I didn’t expect was that the difference would be 550%!!! That’s right. One litre of Pestmaster was $8 and one litre of Roundup was $44.

Not only can the makers of Roundup charge a 550% premium for their Glyphosate, they can and do have the worlds most popular weed killer. Farmers, Landscapers and Gardeners would rather pay $44 a litre than $8 a litre to have a well known and trusted brand do the job.  

TIP: If you have a well known brand name you can and should attract a high price. The premium is what consumers want to pay for peace of mind.

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