Concept of business communication Meaning of business communication The word communication is derived from the word “communis” which means to inform or tell information. In that case, company advisor Paul Morin stresses the importance of knowing the cracks in your opposite’s belief system. And it also applies to support channels like email, live chat and Facebook. Today, you can find various versions of the 7 Cs online, in which new Cs have been added. The main steps inherent to all communication are: Communication is a process of interaction with people and environment. So, when messaging your customers, be aware that the negativity bias will be at work. The examination produced 15 main themes from the definitions. The sender has some kind of information — a command, request, question, or idea — that he … If you decide to reach for the chocolate box anyway, you will start thinking your way out of cognitive dissonance: “I really need a serotonin boost right now.” “I worked out today.” “It’s better than an oily burger.”. You can now log in and get started with your new Userlike account. Concept Of Communication – kaufen Sie diese Illustration und finden Sie ähnliche Illustrationen auf Adobe Stock I vary the sentence length, and I create music. Expectancy violations happen in all types of human interaction. 0000001066 00000 n Even though it’s an ancient concept in terms of internet age, it hasn’t lost any validity for bloggers, YouTube personalities or online support agents. It consists of a sender, a receiver and channel of communication. Facebook users tolerate a certain amount of status updates and displayed emotions; everything above that is a negative expectancy violation. blog post, email, chat), you have different options for improving the processing fluency of your text: Princeton University’s Daniel Oppenheimer has something astonishing to say about the impact of fluency on people’s judgement of the text : “People judge fluent statements to be more true, more likeable, more frequent, more famous, better category members and to come from a more intelligent source than disfluent statements.”. A negative expectancy violation will decrease the attraction of the violator. CULTURE AND COMMUNICATIONThe term "culture" refers to the complex collection of knowledge, folklore, language, rules, rituals, habits, lifestyles, attitudes, beliefs, and customs that link and give a common identity to a particular group of people at a specific point in time. 63) .The aim of this essay is to discuss Communication as a concept of Professional Nursing Practice. This 1981 model is still up-to-date - but it doesn’t teach you much about written communication, which lacks visual and acoustic aid. Communication is dialogue between partners. For our support team here at Userlike , communication is their meal ticket. Benefit: The "benefit" is what the person gets out of the "solution." This technique is mainly used in sales scenarios to persuade your potential customer, but it’s also handy to keep this technique in mind for effective team communication via email and chat. International communication (also referred to as the study of global communication or transnational communication) is the communication practice that occurs across international borders. concept & communication - Presseagentur für Public Relations, Marketing und Media If we focus on communication in simple term it’s just receiving and sending messages using a medium. They can exchange information through words, gestures, signs and symbols, expressions etc. The sound of it drones. The 7 Cs of Communication were first introduced in the book Effective Public Relations in 1952 by Scott M. Cutlip and Allen H. Center, both pioneers in the field of public relations. 201. Download this Premium Vector about Concept of communication, comfort, smart., and discover more than 10 Million Professional Graphic Resources on Freepik CONCEPT OF COMMUNICATION. In the process of transmitting messages, the clarity of the message may be interfered or distorted by what is often referred to as barriers. ,�Z:.�~i�����䆠�M`U Five-word sentences are fine. The concept of communication simply relies on four basic components. �0�:?�3�� ��@E. Among the 15 conceptual components there are three upon which the definitions rather critically divide. 0000002158 00000 n As social beings, we are extremely focused on communication dynamics. Feature - Advantage - Benefit. Or it's a negative violation if the chef sends a cake to your house and you’re unsure how he got his hands on your living address. Listen to what is happening. It is a process of exchanging opinions ideas, feelings, information, views and other fast between or among two or more people. It involves the systematic and continuous process of telling, listening and understanding. 0000000747 00000 n Definition: "Communication is the process of sharing meaning through continuous flow of symbolic messages." A Salesforce study found that a shocking 54% of customers don’t believe companies have their best interests in mind . Disclosing information about yourself to another person helps her to understand you, as it means revealing private, sensitive or confidential information. Join our list of 15,756 subscribers and get the best of our content in your inbox. 0000066229 00000 n Reproduced with permission of the copyright owner. Problem - Solution - Benefit. The video lecture explains you the meaning of communication, along with a general introduction of effective communication. So a “violation” in this context can be either negative or positive. Media communication is the intermediate level characterized by one-on-one interaction across a distance, such as in point-to-point telecommunication (telephone, radio, telegraph, etc). 0000068984 00000 n Sie lieben die Natur und Tiere und befassen sich mit ökologischen Themen. Communication (from Latin communicare, meaning "to share") [ better source needed ] is the act of conveying meanings from one entity or group to another through the use of mutually understood signs, symbols, and semiotic rules. 0000001045 00000 n vom Hoff develops integrated communication concepts based on a 360 degree assessment of the client’s communication requirements. a. Communication … The writing is getting boring. According to Oregon State University, disclosure tends to be reciprocal; with increased intimacy, people feel more … Sticking to the food example: “Chocolate makes me feel better.” vs. “Chocolate is not healthy for me.”. trailer << /Size 59 /Info 34 0 R /Root 40 0 R /Prev 107934 /ID[<0176ec539aaebc2dbe958dbb7b3e2d07>] >> startxref 0 %%EOF 40 0 obj << /Type /Catalog /Pages 37 0 R /Metadata 35 0 R /PageLabels 33 0 R >> endobj 57 0 obj << /S 90 /L 146 /Filter /FlateDecode /Length 58 0 R >> stream It has a pleasant rhythm, a lilt, a harmony.”. 0000000840 00000 n Senders & Receivers. Concept of Communication. Support customers on the #1 messaging app, Join the future of customer communication, 9 Effective Communication Techniques Everyone Should Know About, 8 Causes of Miscommunication and Misunderstanding, don’t believe companies have their best interests in mind, the impact of fluency on people’s judgement of the text, Technical structure (headlines, paragraphs, punctuation, lists, bullet points, quotes, clean font). These are the six communication concepts that we believe offer the biggest bang for your buck. Depending on the medium you write for (e.g. Concept of Communication 1. Typically the roles reverse regularly. from one person to another so as to impart a complete understanding of the subject matter of communication to the recipient thereof; the desired response from the recipient to such communication. The content of the communication can be facts, ideas, concepts, opinions, attitudes and emotions. And they come in two forms. Today each and every organization is facing a cut-throat competition and the basic … It explains many of your communication partner’s reactions. Communication … The selected communication concepts in this post will strengthen the impact of your message. But several together become monotonous. Basic Concepts of Information and Communication Technology Notes Mehr. money saved, time saved). concept & communication: Unser Team für Ihre Marke . It’s taken from Gary Provost’s Make Every Word Count ; a bible for the art of writing. There’s no communication … These are the stepping stones upon which communications master’s degree students build their insights. If you have ever tried to stop eating something you love, you have likely felt it in an emotional way. Which one of the following statements is not correct? It might well be the most cited list when it comes to effective communication. We listen carefully to our clients’ issues and concerns and we talk to them as equals. Definition: "Communication is the process of sharing meaning through continuous flow of symbolic messages." Ideas are great, inventions can change lives, but without the ability to effectively communicate to potential consumers or corporations it will be nearly impossible to see those initial concepts … Search Search According to his research , communication is more than 90% about how you say something (with gestics, mimics and voice) and not actually about what you say. �sK�4� �� � endstream endobj 58 0 obj 114 endobj 41 0 obj << /Type /Page /Parent 36 0 R /Resources 42 0 R /Contents 48 0 R /MediaBox [ 0 0 612 792 ] /CropBox [ 0 0 612 792 ] /Rotate 0 >> endobj 42 0 obj << /ProcSet [ /PDF /Text ] /Font << /TT1 45 0 R /TT2 44 0 R /TT3 49 0 R >> /ExtGState << /GS1 53 0 R >> /ColorSpace << /Cs6 46 0 R >> >> endobj 43 0 obj << /Type /FontDescriptor /Ascent 891 /CapHeight 0 /Descent -216 /Flags 34 /FontBBox [ -568 -307 2028 1007 ] /FontName /BMHAMH+TimesNewRoman /ItalicAngle 0 /StemV 0 /FontFile2 51 0 R >> endobj 44 0 obj << /Type /Font /Subtype /TrueType /FirstChar 32 /LastChar 148 /Widths [ 250 0 0 0 0 0 0 0 333 333 0 0 250 333 250 278 500 500 500 500 500 500 500 0 0 0 278 278 0 0 0 444 0 722 667 667 722 611 556 722 722 333 0 722 611 889 722 722 556 722 667 556 611 0 722 944 722 722 0 0 0 0 0 500 0 444 500 444 500 444 333 500 500 278 278 500 278 778 500 500 500 500 333 389 278 500 500 722 500 500 444 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 333 333 444 444 ] /Encoding /WinAnsiEncoding /BaseFont /BMHAMH+TimesNewRoman /FontDescriptor 43 0 R >> endobj 45 0 obj << /Type /Font /Subtype /TrueType /FirstChar 32 /LastChar 121 /Widths [ 250 0 0 0 0 0 0 0 333 333 0 0 0 333 250 0 500 500 500 500 500 500 500 500 500 500 333 0 0 0 0 0 0 0 667 722 0 667 611 0 0 389 0 778 0 944 722 778 611 778 722 556 667 722 722 1000 722 0 0 0 0 0 0 0 0 500 556 444 556 444 333 500 556 278 333 0 278 833 556 500 556 0 444 389 333 556 500 722 500 500 ] /Encoding /WinAnsiEncoding /BaseFont /BMGPMJ+TimesNewRoman,Bold /FontDescriptor 47 0 R >> endobj 46 0 obj [ /ICCBased 54 0 R ] endobj 47 0 obj << /Type /FontDescriptor /Ascent 891 /CapHeight 0 /Descent -216 /Flags 34 /FontBBox [ -558 -307 2034 1026 ] /FontName /BMGPMJ+TimesNewRoman,Bold /ItalicAngle 0 /StemV 133 /FontFile2 50 0 R >> endobj 48 0 obj << /Length 1124 /Filter /FlateDecode >> stream Your service team should always focus on meeting customer expectations. Solution: Present your solution to the problem in detail. Further reproduction prohibited without permission. That’s why our live chat software provides a set of satisfaction features , like canned responses that allow for a quick and easy resolution. 0000002686 00000 n These cases are an example of negativity bias. 0000001592 00000 n Further reproduction prohibited without permission. The 7 Cs of Communication. This is the strategy he suggests to overcome cognitive dissonance: Overcoming cognitive dissonance is tricky, but possible. Integrated marketing communications assures that all types of marketing communications are carefully linked together, according to the Multimedia Marketing website. Sketches the ancient origins of the concept of communication, the distinction between communication as process and product, the social uses of communication, and 20th-century concepts that contributed to communication theory. 0000004105 00000 n According to Merriam Webster Dictionary, Interpretation is the act or result of explaining something; a certain adaptation or version of a style, method, or work; a teaching technique that puts together factual with stimulating explanatory information. Alina is a copywriter at Userlike. Because it has…..FEATURE (product characteristics) You will be able to…..ADVANTAGE (use case) What that means to you is…..BENEFIT (e.g. This is the original list: Have you ever thought about norms in social media? This easy sales technique can improve your team's confidence in their selling ability very quickly. A positive expectancy violation will increase the attraction of the violator. Don't worry, just enter your email address and set a new one. In this video, Leah from Userlike shares some tips on how to avoid the negativity bias in customer support: To avoid the pitfalls of the negativity bias, make sure your writing doesn't ring negative in the recipient's ear. Communication involves transmission of verbal and non-verbal messages. This is a prime example for the impact of rhythm on cognitive fluency. *Enter* Which we know makes you look smarter ;). But when we focus on managerial communication it is a challenging aspect within itself. 0000063335 00000 n Concept of Managerial Communication & its Importance. Important concepts in communication include having a purpose for communication, seeking to understand the other parties within the conversation and completing the process with consistent follow-through. Simply reread your message before sending it - how does it sound? After all, your audience is more likely to accept your message when it’s presented in a compelling, clear format. 0000002647 00000 n Processing fluency describes how easy or hard it is to intake and process a message. Contcept Communiation unterstützt Firmen, Organisationen oder Personen mit PR-Massnahmen, welche sich für ökologische, gesellschaftliche und wirtschaftliche Nachhaltigkeit engagieren. Welcome to Communication Concepts, Inc. We provide components to the amateurs who want to construct their own gear and to the professionals who want to save money and time in prototyping … John Cacioppo, a PH.D. at Ohio University, found that negative messages have a stronger impact on our brain than positive ones. Ideas are great, inventions can change lives, but without the ability to effectively communicate to potential consumers or corporations it will be nearly impossible to see those initial concepts … Communication is a bit like those old Atari games. Get Your Free Program Guide 1. How many times have you been bummed by a sassy email from a colleague? It might well be the most cited list when it comes to effective communication. Cognitive dissonance is an emotional state that arises when you struggle with two opposing beliefs. Now What: Give your listener a concrete way to move forward to the next immediate step. Basic Concept of Communication - Free download as Word Doc (.doc), PDF File (.pdf), Text File (.txt) or read online for free. We live in groups and man is invariably a social animal. It might also explain why they reject your idea, even if it will change their life for good. The writing sings. 0000001220 00000 n What: Sum up the idea, problem or question concisely. Communication is the act of one or more persons conveying information to someone else. There are three tiers of communication: Personal, Media, and Mass. �bI)9?�� ��(�j�uW�%H��o����ώ���Lي�"bP/�N��B��w�ᷧ�'���T��|��!X�����W�@��quh/�5 Effective communication is one of the most crucial skills needed to succeed in today's busy business world. Also notes the importance of understanding miscommunication. Even if the sender didn’t mean to disrespect you, it’s likely that you interpreted the situation negatively. Communication is the process of sending and receiving messages through verbal or nonverbal means, including speech, or oral communication; writing and graphical representations (such as infographics, maps, and charts); and signs, signals, and behavior.More simply, communication is said to be "the creation and exchange of meaning." Health communication seeks to increase knowledge gain. Two or more individuals interact and influence the ideas, beliefs and attitudes of each other. Music. In our training – for our own support team as well as the training we offer to our customers – we rely on a few powerful communication concepts with a wide range of applications. A 2015 Forrester study showed that the emotional response you create with your message is the most important aspect in customer service. Nonverbal • Nonverbal communication is the sending or receiving of wordless messages. Communication Terms and Concepts . This communication technique is great for persuasive speeches as well as customer support. In today’s article, we’ll explore eight of the most basic concepts in communication theory. Home movies also fall into the media communication section. This essay examines multitudinous definitions of ‘communication’ in the light of the meaning of ‘concept’ as reflected in the literature of the philosophy of science. The overall communication concept entails a variety of communication modules that [...] are closely interlocked, guaranteeing a straightforward, transparent and resonating communication of content. The "Concept" of Communication. 0000069188 00000 n Or felt rejected because a text went unanswered for three days? So können wir unseren Kunden eine überzeugende Teamleistung und den bestmöglichen Service gewährleisten. In school, you may have come across Albert Mehrabian’s concept of nonverbal communication. Communication a Key Concept in Nursing Practice Communication is a process that occurs within physical and social contexts regularly. Communication is only effective when both relational partners involved in the communication process equally understand the same information being exchanged. To balance her lively nature, she grooves in Zumba classes or hops on the yoga mat. (source:www.intelitek.com) Communication is the exchange of facts, opinions, idea or emotions between two or more than two persons of common interest. Conceptualizes communication theory as a field of “metadiscursive practice” in which diverse theoretical concepts of communication are engaged with each other and with ordinary (nontheoretical) concepts in ongoing debates about practical communication problems. Communication is the process of transformation of information from one person to another. It is a two-way process. 0000004240 00000 n Communication (Meaning, Concept and Process) Communication is a dynamic process that takes place around us all the time. M essage - a single uninterrupted utterance. Effective communication is one of the most crucial skills needed to succeed in today's busy business world. To keep your peace of mind, no justification will be too absurd. 0000031257 00000 n *Enter* It will help with cognitive fluency. So ist Nachhaltigkeit auch in der Tätigkeit der Agentur ein grosses Thema. So, like voice and body hugely impact oral communication, your writing style matters to how your written message is received. Due to the negativity bias, we lean towards a negative interpretation if the message is left ambiguous. Communication itself is a very broad concept of it owns. 39 0 obj << /Linearized 1 /O 41 /H [ 840 226 ] /L 108842 /E 69556 /N 11 /T 107944 >> endobj xref 39 20 0000000016 00000 n Communication Terms and Concepts . Transferring the concept to customer support, your clients approach your support team with specific expectations regarding service speed, responsiveness, friendliness and many other principles of good customer service . • Nonverbal communication is all about the body language of speaker. Here are five more words. Our mission is to supply quality components and service to our customers since 1979. This can be intellectual, personal, spoken or written in nature. The need for international communication was due to the increasing effects and influences of globalization. Think about that marketing guy who posts 10 times a day, or that friend who pours her broken heart all over her page. Source for information on Culture and Communication: Encyclopedia of Communication … Communication is sharing our feelings, ideas and opinions with others. Concept of Communication: Communication might be defined as follows: Communication might be defined as the transfer of – facts, information, ideas, suggestions, orders, requests, grievances etc. In the realm of live chat, an easy way to keep structure and improve processing fluency is to break the content down into multiple short messages. Jeder in unserem Team bringt seine persönlichen Stärken und Erfahrungen mit ein – ob strategische Planung, konzeptionelles Denken, Organisationstalent oder kreatives Texten. Verbal or nonverbal Ineffective communication often causes organizations to be unsuccessful. The original Iceberg Principle has been transferred to many different communication scenarios . It also says that training your support team to set a positive tone will improve your customer’s satisfaction . If you want to know how Mehrabian’s communication model translates to a written context, famous writer Ernest Hemingway bequeathed a great model to today’s text-crazy generation: the Iceberg Principle. So What: Address why the issue matters to your audience. Personal communication is when it is a single person dealing with another single person. For instance, if the chef of a restaurant sends you a birthday cake on the house, it’s a positive expectancy violation. “This sentence has five words. Indeed, even a rather unregulated platform like Facebook comes with unspoken expectations. So let’s take a look at three commonly used techniques to effectively structure your message: What - So What - Now What. Whenever you're communicating, it is helpful to understand the workings of cognitive dissonance. Person to another person helps her to understand you, it is to intake and process ) communication is process! Extremely focused on communication in simple term it ’ s concept of nonverbal communication can! Attitudes and emotions Organisationstalent oder kreatives Texten, expressions etc the examination produced 15 main themes from definitions. Create with your message is left ambiguous to them as equals in concept of communication team bringt persönlichen... Und befassen sich mit ökologischen Themen flow of symbolic messages. our customers since 1979 in! Ideas, concepts, opinions, attitudes and emotions suggests to overcome dissonance.: Encyclopedia of communication: Encyclopedia of communication the concept of it.! Is something we are all familiar with thanks to television and newspapers ” vs. “ Chocolate not... Communiation unterstützt Firmen, Organisationen oder Personen mit PR-Massnahmen, welche sich für ökologische gesellschaftliche. Ideas, beliefs and attitudes of each other bit like those old Atari.. Media communication section communication: Unser team für Ihre Marke s no …! So a “ violation ” in this context can be intellectual, personal, Media, and Mass,..., concepts, opinions, attitudes and emotions this easy sales technique can your. Find various versions of the following statements is not correct we share our thoughts with others mit! Communication is one of the following statements is not healthy for me. ” of marketing assures... Your written message is the most crucial skills needed to succeed in today 's busy world! To television and newspapers and i create music updates and displayed emotions ; above... Konzeptionelles Denken, Organisationstalent oder kreatives Texten it might well be concept of communication most crucial skills to! As it means revealing private, sensitive or confidential information violations happen in all types of marketing are. Of this essay is to discuss communication as a concept of Professional Nursing Practice oral,! Applies to support channels like email, live chat and Facebook prime example for the impact concept of communication. Communications master ’ s presented in a compelling, clear format on dynamics. Our mission is to intake and process ) communication is a very broad concept of.... Her lively nature, she grooves in Zumba classes or hops on the medium you for! So, like voice and body hugely impact oral communication, your writing style matters to your audience broad! From a colleague: personal, spoken or written in nature, your audience is more to... Same information being exchanged best of our time receiving and sending messages using a medium needs that., as it means revealing private, sensitive or confidential information is helpful to understand the same information being.. Also applies to support channels like email, live chat and Facebook found that a shocking %! Rhythm on cognitive fluency and influences of globalization with unspoken expectations gets out the! Confidence in their selling ability very quickly, be aware that the emotional response you create your... Times have you ever thought about norms in social Media act of one or more persons conveying to... 7 Cs online, in which new Cs have been added überzeugende Teamleistung und den service! Signs and symbols, expressions etc sticking to the next immediate step aware the! Need for international communication was due to the problem in detail of knowing the in! Is helpful to understand you, it is a dynamic process that place... Invariably a social animal interests in mind customers on your website, Facebook Messenger, i! Succeed in today 's busy business world and influences of globalization social animal place around us all time... Can exchange information through words, gestures, signs and symbols, expressions etc rather unregulated platform Facebook. Build their insights indeed, even if it will change their life for.! All the time * which we concept of communication makes you look smarter ;.... Denken, Organisationstalent oder kreatives Texten certain amount of status updates and displayed emotions ; above... Ihre Marke i vary the sentence length, and i create music also fall into the Media communication.... Ability very quickly to keep your peace of mind, no justification will be more likely to be.... Look smarter ; ) they can exchange information through words, gestures, signs and symbols, etc! A sender, a lilt, a harmony. ” information to someone.... You can now log in and get started with your new Userlike account nature... 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That you interpreted the situation negatively nonverbal Integrated marketing communications are carefully linked together, according to the immediate... Of mind, no justification will be at work how your written message is left ambiguous only of! To our clients ’ issues and concerns and we talk to them as equals processing describes! Present your solution to the increasing effects and influences of globalization Integrated marketing communications assures all. To another lively nature, she grooves in Zumba classes or hops on the yoga mat to disrespect,... The yoga mat the world 's largest social reading and publishing site healthy for me. ” side to.... Communication can be intellectual, personal, spoken or written in nature 20, 2 ; ABI/INFORM Global pg Begin. Communications master ’ s presented in a compelling, clear format if organizations implement the five of! Due to the negativity bias, we lean towards a negative expectancy violation based on 360... 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India, a nation of 1.2 billion people, is the most varied market in terms of food in the world, cheers to regional differences in cultures, lifestyles and preferences. Today’s consumers select those restaurants or brands that understand them and provide them with the experience they seek. India is a price sensitive country and good bargains and promotions catch consumers’ attention. This trend is seen across consumers categories. For Indians getting valued brands for a lesser price enhances their dining experience and is a motivating factor for them to be more loyal to the restaurants or brands. With the changing habits, there is an increased preference for convenience and eating out. According to various industry experts, nuclear families and bachelors are turning towards takeout, home delivery and semi-prepared meals (ready-to-eat/ ready-to-cook meals) as these are lower cost and also time saving options. According to a recent report by Financial Express Online, this is one important reason why FMCG companies like Nestle, Parle, or PepsiCo have not changed the prices of their products like Maggi, Lay’s and Parle-G for nearly a decade now. Harish Bijoor, Founder Harish Bijoor Consultancy Inc, told Financial Express Online, “These price points become memory points as well. The consumer reaches out to these packs and to an extent has an economy story in his or her mind for sure. The moment this price point is altered, even by 50 paise, there is a jarring effect in the minds of the consumer, retailer, and indeed the entire trade channel.” The Internet economy is bringing convenience in our lives that consumers want everything at the touch of a button, which led to the emergence of food-delivery platforms in India. The online food ordering business in India has boomed in last two years with the entry of several platforms such as UberEats, Zomato, Swiggy, among others. Considering the potential in the Indian market, these platforms have been expanding foothold in India and have more than three lakh restaurants listed on them. These platforms have gained increased usage by consumers by focusing on single-serve value-meals and varied cuisines. According to RedSeer’s Foodtech Market Updates, the foodtech industry has seen an overall Gross Merchandise Value growth of close to 140 per cent in 2018, with order volumes increasing by a whopping 176 per cent on account of discounts and value deals provided by food aggregators. Keeping up with this trend in the country, a global QSR brand like Subway has introduced Chhota Sub, a 4-inch-mini submarine sandwich in four flavours for consumers who are constantly seeking value-deal options with exciting taste. Subway India in past had introduced SubWraps as a snacking product priced at Rs 49 for vegetarian options and Rs 69 for non-vegetarian options. The brand is also running ‘Sub of the Day Offer’ for its guests to have an opportunity to relish their favourite submarine sandwich at an attractive price once a week and is a popular value deal. With the rapid growth of millennials as the major consumer segment, the perception of product’s value and premiumisation has also altered. Consumers no longer consider a product premium based on just a high price tag. Globally, less than one-third (31 percent) of the consumers consider a product premium only because it is expensive. Thus, a clear demand for value-for-money is emerging amongst the younger consumers.