Marketing to Consumers in a Post-Abundance Economy

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Marketing to Consumers in a Post-Abundance Economy - Presentation Transcript

  1. Marketing to Consumers in a Post-Abundance Economy
  2. Acknowledgment
    • This presentation was based almost entirely on J. Walker Smith’s article in the November 2008 issue of Media titled “Enough of Too Much .”
    • J.Walker Smith is president of Yankelovich Inc. and the coauthor of three critically acclaimed best-sellers. His new book, with Ann Clurman, is Generation Ageless .
  3. “ People don’t buy products. They buy solutions to problems.” -- Ted Levitt, Harvard B-School Marketing Guru “ People don’t buy products. They buy solutions to problems.” -- Ted Levitt, Harvard B-School Marketing Guru
  4. Levitt’s Insight: A Keystone Idea in Marketing
    • Identifying problems (needs) and solving them is what business is about.
    • Begs a more basic question: What is a need?
  5. What is a Need
    • Our society’s idea of “needs” shaped by scarcity of 1930s and 1940s.
    • “ Post-scarcity” period filled our driveways, garages, closets and drawers to overflowing.
    • The massive expansion of consumer debt was central to this.
  6. Post-Scarcity
    • Our needs became more sophisticated and more removed from basic requirements.
    • No longer about performance, it was about experience.
    • No longer about value, it was about empowerment.
    • No longer about quality, it was about celebrity.
  7. We are now moving from post-scarcity to post-abundance. We are now moving from post-scarcity to post-abundance.
  8. Post-Abundance
    • Post-abundance will still be marked by scarcity.
    • But scarcity in the future will be rooted in abundance, not deprivation.
  9. Post-Abundance
    • Too much creates no less a dearth than too little.
    • Too much to do creates a paucity of time.
    • Too much to view creates a shortage of attention.
    • Too much to know piles up against limits in processing capacity.
    • Instead of too little to do, view, know — or own, buy, rent, manage, etc. — we now have too much.
  10. “ We have more than met the needs of deprivation, and the ensuing riches of super-abundance have had the paradoxical effect of creating a need for less.”
  11. Less, not more
    • Learning to market to consumers who want less.
    • New needs will have to be discovered
    • New solutions will have to be mastered and delivered.
    • The biggest growth opportunities of tomorrow will be those that address the needs of consumers who are overwhelmed by super-abundance.
  12. “ It means thinking about how to give consumers less in ways that deliver more value to their lives.”
  13. Giving consumers less
    • Less to spend (save them money)
    • Less to do (save them time)
    • Less to worry about (make it convenient)
    • Less space to manage (make it compact)
    • Less waste (make it green)
    • Less to understand (keep it simple)
    • Numantra is a very unique and results-driven advertising & marketing agency that was started on the crest of a tidal wave of change that ushered in the 21st Century. Our founding partners recognized the coming of this change and purposefully created a company shaped in the image of the unstoppable future. Find out what Numantra can do for you. Visit hire.numantra.com for more information.

+ Mike HeronimeMike Heronime, 2 years ago

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Obviously, the rules have changed drastically. Tha more

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