Amy E. Boren is a seasoned marketing research professional with over two decades of experience in both qualitative and quantitative market research. As the...

In my experience, businesses succeed by making a clear strategic choice: positioning themselves as either the best low-price option or the best higher-priced, high-quality alternative in their market. Companies that fall between these positions often lose relevance and market share. One mistake leaders make is chasing short-term trends at the expense of their core brand identity. When I took over ConAgra’s Banquet brand, previous attempts to elevate the brand’s quality and pricing had failed because they ignored the needs of its core consumers—families with limited income who relied on Banquet for affordable meals. Instead of transforming Banquet into something it wasn’t, I embraced its identity as a provider of “Good Food at a Great Value.” We refocused on delivering dependable, low-cost meals, which resonated with both consumers and retailers. Initiatives like multiple-unit promotions and the successful launch of Banquet Crock Pot Classics, which addressed specific consumer needs, drove significant growth. By leaning into Banquet’s core strengths and staying laser-focused on cost containment, we revitalized the brand, outperformed competitors, and turned Banquet into one of ConAgra’s most successful divisions. The key lesson is simple: understand what your brand stands for, embrace it, and don’t lose sight of your core value proposition in pursuit of fleeting market trends.