Wednesday, 2 December 2009
Air Raid Shelter
Thursday, 5 November 2009
Post crisis consumerism- Some thoughts
The video was about post crisis consumerism. In the present economic climate, consumer behaviour is remarkably different. The Chinese character for crisis is same as that for opportunity. And this is the gist of the whole talk.Basically, consumers are increasingly becoming more and more empowered. Not only because they have to make optimal use of their monetary reserves but also because brands need to change themselves to become not just about value but also values. The association between a brand such as Nike and the consumer is not just based on the price factors but also on how the consumer perceives the brand.
In the current economic climate, any brand that wished to sustain itself over a longer period of time will need to understand the dynamic psyche of the empowered consumer and position or rebrand itself accordingly to not only provide the goods or services but also the associated values of say, green credentials, positive brand image, honesty etc.
Profiling target audiences has to take into account not only demographics but also psychographic identification and create a brand that identifies itself with the values and beliefs of this new age consumer
