The WARC Podcast
WARC x IPA EffWorks: Brands & pricing power, plus digital creative excellence
Oct 10, 2023
In this EffWorks episode, guests discuss managing price rises and planning for inflationary times, excellence in digital creative, the impact of attention problem in digital media, creating ads that fit different digital formats, the evolution and coexistence of two creative schools of advertising, and the tension between brand and performance in advertising.
35:40
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Quick takeaways
- Brands that spend more on advertising have a lower price elasticity, meaning the drop in sales when they increase prices is less significant.
- Inflationary times create an opportunity for challenger brands as consumers are more likely to shop around and consider alternatives. By offering a competitive price and captivating advertising, challenger brands can attract new customers.
Deep dives
The Role of Advertising in Price Elasticity
Brands that spend more on advertising have a lower price elasticity, meaning the drop in sales when they increase prices is less significant.
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