Regarding your News Analysis “Waitrose wises up to Nineties values” (MW June 4).
The article begins: “Waitrose has trebled its profits over the past five years and increased its sales by 50 per cent. How many brands can say that?” But she then goes on to say: “Waitrose has shelled out a meagre 1.5m annually… through its incumbent for fours years, Jaffe Keating”, as though this were some kind of under-achievement, thus revealing the PR source and spin.
Waitrose did not spend the equivalent of 20m per annum, as its competitors did during the same period, simply because it did not need to, as the results amply demonstrate.
By building an accurate brand positioning, targeting a core market of like minded shoppers, and maintaining an integrated communications strategy, both nationally and locally, Waitrose and its agency bucked the trend.
It has to be recognised that the Waitrose advertising, which the article acknowledges “cultivated a separateness”, has been the most successful supermarket advertising of the period.
The John Lewis Partners earned a 22 per cent bonus this year.
How many other marketing dir-ectors can say they made such a return on investment for their shareholders?
Or is advertising for the enrichment of agencies, not clients?