The magic of Price Provocation & Johnnie Walker Black Label!
Common wisdom says that higher prices typically lead to lower sales.🤓
Right?
Apparently, that's not always the case.😲
Flashback to the early 1980s.📼
Johnnie Walker Black Label had launched in Greece as a premium brand, but sales were below expectations.
Dimitris Paximadis, a highly successful advertiser in Greece 🙌, was at the time the General Manager of BBDO Athens. His team was tasked with boosting sales for the brand.
Eventually, they came up with a provocative idea for a TV campaign. The message?
🌟It’s 12 years old, black, and EXPENSIVE!🌟
And guess what?
Once the campaign aired, sales skyrocketed!
Curious about the campaign's success, despite provocatively highlighting the high price, they asked customers what influenced their decision. The answer?
When buying a gift, customers picked Black Label because everyone would recognize it as a premium, expensive gift!😲
Price Provocation can be a powerful tool! It can raise eyebrows, increase awareness, and signal superiority in the market.💎
Huge kudos to Dimitris Paximadis for this groundbreaking campaign and to Danilo Zatta, PhD, MBA, for bringing up the fascinating topic of price provocation in the latest edition of Price Point!
Interested in learning more about AI-Powered Price Optimization and Strategic Forecasting?
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