1. How To Reach The New Consumer Chris Kanno & Hannah Lucich

2. Step 1 in reaching the consumer The Price has to be right o 86% believe price is an important consideration in shopping  ex: Del Monte, 60% ROI in incremental revenue  ex: Alaska Walmart value messaging  ex: Indianapolis' Steak n Shake Co's $4 meals o Consumers believe they are entitled to getting better prices

3. Step 2 Define value beyond price o price isn't everything, "brands that best meet that complete brand-value set are going to be the ones that win out" - Steve Cartozian, chief strategic innovator at Arlington Heights  ex: Steak and Shake Co. also promoted the value of its food o companies are stressing functional value  ex: Dollar tree getting rid of discretionary items for food items for repeat business

4. Step 3 Word to the Wise o It's important for marketers to create positive word of mouth  Chipotle created "My Chipotle" campaign  Lululemon Athletica was affected by the recession so they added free classes and increased employee training

5. Discussion Questions 1.Do you believe Chipotle and Lululemon successfully used word of mouth to increase awareness? 2.When you guys buy things do you factor in most if not all of these things consumers are trying to push?