University of Melbourne consumer psychologist: Price competition 'the opposite of marketing'

University of Melbourne consumer psychologist Brent Coker, speaking at CAPA Live January 2021, stated (13-Jan-2021) when an industry "wakes up again, what tends to happen is that all the brands start scrambling for the consumers", leading to price competition. Mr Coker said: "It's the opposite of marketing, where we want to build our services and our offerings and our value based on premium-ness, so that we can extract more profit out of consumers. Then, in the long term, we start focussing on loyalty".