Any advertiser wishing to advertise low prices while still protecting its brand equity could learn a lesson from the latest Lowe’s TV commercial.
The ad creatively shows a variety of situations in which a t-shaped item (like an upside-down push broom sticking out of a shopping cart in a Lowe’s parking lot) is placed to the right of the Lowe’s logo, thus creating the word “Lowest”. The ad features several of these shots, each of which is clever and even mildly entertaining, while reinforcing Lowe’s claim of offering the lowest prices available.
The beauty of this advertising is that it registers the Lowe’s brand repeatedly throughout the commercial, which is in stark contrast to the typical commercial that seems almost embarrassed to show or say the advertiser’s name. Moreover, the cleverness of the ad reflects very favorably on Lowe’s’ image.
From a strategic standpoint, I never like to see a marketer hyping low prices, as there will always be someone to come along and undercut your prices and hence your strategy. Still, if that is the strategy you’ve chosen, it’s essential that you do everything possible to protect your brand equity and let people know that you stand for more than just cheap prices. And in that regard, Lowe’s has set the bar very high.