Morrisons: brand values + value = share value?

During tight times on the high street, Morrisons supermarkets seem to be bucking the trend with like-for-like sales up 2.2% and profits significantly up against analysts predictions. All of this from a brand whose profile is nowhere near so high as its bigger rivals. This is a fine example of an organisation that concentrates upon its brand values rather than heavy brand communications.

The chain has far fewer outlets than its big competitors, so for many people, Morrisons’s offer and what the brand stands for may be a bit hazy. I know that I don’t have a branch nearby so that whenever I do have the opportunity to visit a store it is a surprising and revelatory experience. Of course, for the regular customers, it is about consistency and not surprise. So the company does not waste energy trying to communicate the brand offer to me, who is unlikely to drive many miles rather than patronize the Tesco, Asda or Waitrose sores on my doorstep. What Morrisons appear to do is concentrate upon the brand values and fulfilling the promise for their active customers – what seems like a growing population.

It is a very simple approach, perhaps in line with their no-nonsense Yorkshire heritage, but one which others can learn by: focus upon your core brand values – deliver upon that value promise for your audiences – brand value will grow and ultimately so will brand equity.

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