This week a new Account Handler joined team Libertine, Monique who has just arrived from New Zealand... and delighted we are too.

She expressed surprise that while out at a restaurant most of her fellow diners ordered Sea Bass rather than Cod. In New Zealand this would be considered idiocy as Cod is obviously far superior. Interesting eh? Or maybe not? But it did get me thinking.

Cod's problem (in the Northern Hemisphere) was there was loads of it and it was easy to catch. The result was it became oversupplied and underpriced. We all grew up neither appreciating its quality or valuing it properly. In the short-term it fed lots of people and the volume suppliers made lots of money. But in the long term nobody won. The Cod themselves certainly didn't benefit; there are hardly any left and we have all ended up deluding ourselves that Sea Bass is better.

Is there a lesson in this? Well it is a reminder that brands that oversupply and underprice need to be very careful in the long term. It is not easy to avoid, particularly in the current climate but brands should fight tooth and nail to avoid becoming commoditised, discounted and obsessed with volume rather than margin. By maintaining some degree of exclusivity and premium pricing the whole brand experience can be transformed. The Sea Bass example proves it: we actually believe that Sea Bass is better than Cod even if those from The Southern Hemisphere think we are all mad.