IFT FIRST: Dissecting goal-oriented product creation
Kansas City, Missouri — CPG brands are expected to provide answers as consumers’ knowledge and opinions on a variety of social and environmental issues grow.
The sustainability concerns that people believe the UN should prioritise were posed to them in a spring study by New York-based Ipsos Marketing.
Speaking at The Institute of Food Technologists’ FIRST virtual conference on July 21, vice president of Ipsos Ashley Ericksen stated, “Consumers said they should focus on the issue of zero hunger.” Their desire is for change to occur.
Ipsos reports that throughout the previous five to seven years, consumer behaviour on sustainability hasn’t altered all that much, despite this increased awareness.
“According to Ms. Ericksen, American consumers place a greater deal of accountability on governments and companies than on themselves.” “Though they might not know how to address it, people are considering the problem. If it is possible, they would like an outsider to assist them in solving it.
Accordingly, Vijay continued, value-based marketing and encouraging a two-way dialogue with customers are important
Viswanathan is a Northwestern University marketing professor. Brands seeking to effectively address the issues that consumers care about are no longer able to exert the same pushy, one-way influence that they formerly did. Rather, the dynamics surrounding brand impact have changed, becoming more communal and contextual.
“The primary shift lies in user-generated content and the way consumers are actually obtaining information about brands from other consumers,” Mr. Viswanathan stated. This presents a problem since it eliminates information arbitrage. Twenty years ago, consumers had to rely solely on the word of brands as they had access to specific information. Instead of just shouting at consumers, brands nowadays need to decide how they want to work with them and impact them.
This dynamic is especially relevant to younger customers. Studies reveal that Gen Z and younger millennials use social media as a means of obtaining validation for their choices, which presents new chances for companies to establish more meaningful and enduring connections with their target customers.
In order to succeed in this new landscape, brands need to integrate social and environmental values into every facet of their business, going beyond simple involvement. Everyone involved in the product development process, from pack engineers to food scientists, will be impacted by this new reality.
“What you’re doing is going to have a public component now,” Ms. Ericksen stated. While some may believe that is the responsibility of marketing, I believe that’s where departments will need to collaborate closely in time.
She said that starting at the top is the best course of action.
“I’m sure we’ve all encountered a scenario in which marketing and research and development are working on entirely unrelated tasks, and when those two come together, there’s a disconnect,” Ms. Ericksen stated. All functions will be impacted equally by a mission statement that is clear. It will affect everything you do, including the discussions you have with suppliers, the way you plan to distribute the product, and the way you organise your research. At all organisational levels, that needs to be taken into consideration. Subsequently, the innovation and product development strategy would be affected.