In an earlier post I discussed P&G’s experimentation with lower cost offerings. The company’s recent analyst call confirms management’s commitment to chase the growing pool of frugal buyers, a response to what the P&G CEO’s calls “the new normal.” On a recent shopping trip with my daughter in advance of her return to college I easily identified other companies that “get” and do not get the new normal. BBCG, the brand my daughter yearns for yet cannot afford (unless there is a really great sale or a birthday check is in her hand) significantly lowered its entry price points on this season’s clothes. Same great look and high quality, and what I suspect is a less expensive fabric and simpler lines to sew. The saleswoman at SAKS (where we ended up after outlet stores turned up no shoes that fit) reminded us that…