No worries if you have been ‘head down’ this week in projects. We’ve compiled a few recent articles to illustrate how shifting consumer values are driving change in the marketplace.
“Marketing is not the art of finding clever ways to dispose of what you make. It is the art of creating genuine customer value.”
― Philip Kotler
Like Kotler, who’s authored over 55 marketing books on business values and audience engagement, we’re passionate about helping brands to understand what matters most to their customer types. Following are a few recent articles to illustrate how shifting consumer values are driving change in the marketplace.
1. Food, beverage and household brands are struggling to regain consumer favor for the fifth year in a row with 3 in 4 CPG categories showing an overall decline in “must-have” status according to Deloitte’s Annual American Pantry Study. We see this as a huge opportunity for brands to hone in on what matters most to consumers.
2. Unmemorable marketing is lackluster, uninspiring and overpriced, says Blake Morgan in this Forbes article on the importance of ‘knock your socks off’ customer experiences and the growth of ‘experience officers’ at companies.
3. Whole Foods looks to offer millennials quality food at the lower prices they’re seeking with their “365 Everyday Value” chain of smaller stores. The grocer will differentiate itself amid intensifying competition, with inspiration from smaller stores focusing on value and store-brand products like Trader Joe’s and Sprouts.
4. Consumers of luxury brands look to more discreet, logo-free high-ticket goods. The trend is moving toward personal taste and individuality versus goods that showcase brand logos.