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Ice Cream Packaging and Decision Making

I was at Coles yesterday and took a couple of photos of the ice-cream freezers. As always I was fascinated by the way in which various manufacturers were playing with our brains by way of the product packaging.

With smaller tubs, gourmet names and a higher price tag, many assume that a premium presentation translates to better ice-cream. The reality is that they're often the same quality as the bigger square tubs.

Manufacturers will often tell you that their premium product uses more butterfat, or that their milk is organic and squeezed from grass-fed free-range cows. They'll rant about the richness of their chocolate and other ingredients, or they'll try and convince you that the quality of their butterfat absorbs more flavour and gives it a superior consistency. While in some cases this is true, in most cases what you're buying in the fancy-pants containers is identical to that in the cattle-class bucket. The packaging (and placement/positioning) certainly influences our decision making because we perceive the fancy round container to be of better quality... and we accept that the higher price is justified.

How does this relate to finance?

Most brokerages are a carbon-copy of each other with their talk of 'over 40 lenders', 'our services', 'low rates', 'we work for you', and so on, and they share significant overlap with every other business. Even advertising these days is a carbon-copy worst-practice experience; we see duplicate garbage ads that do nothing to set you apart from the sea of mediocrity, and we see brokers introduce images to their advertising that they've likely chosen or created from a stock Google search (when it represents over 90% of your spend). It's little wonder consumers are confused and bored by industry messaging (the effectiveness of the crap advertising is an entirely different discussion).

What are you doing differently to position yourself? How is your 'premium' brand positioned in the market? Is your flavour unique?

The opposite of extraordinary is what everybody else is doing.

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