Welcome to the dawn of Responsible Consumerism -- arguably the most profound shift in American values since the 1960s. We saw this seismic shift coming a generation away. Members of both the G.I. and Silent generations, those now ages 64 and older, led the way by reducing their own consumption of goods and services as they grew older. Their desires shifted as they reached age 50 and then 60: fewer material goods, more enriching experiences. Fast on their heels comes the largest, wealthiest and most important demographic group America has even seen. Boomers, raised in front of television sets, a target for marketers from age five upward, are now reaching 60 at the rate of one every eight seconds.
Kicking off Nielsen’s Consumer 360 conference in Las Vegas, Irene Rosenfeld, Chairman and CEO of Kraft Foods addressed the ways reaching consumers have changed significantly over the last twenty years and how the Internet and social media are increasingly important components of overall marketing strategies. Previously, brands acted as teachers, according to Rosenfeld. Marketing was designed to build an image around a brand with the expectation that consumers would be attracted to it; they would aspire to the brand. Today, that “paradigm is upside down,” as brands want to learn from consumers and find ways to connect with them.
At age 46, Tom Lynch is a trailing-edge Boomer. But he has already made an important shift in his life, from focusing on becoming someone to being someone. It's a shift marketers need to understand if they want to effectively connect with today's older Boomer consumer.
Coca-Cola Co.'s deal Thursday to acquire the bulk of its largest bottler is likely to spell major changes in the way beverages reach stores and consumers in the U.S. Coke shares slipped 4% to $53.12 in 4 p.m. composite trading on the New York Stock Exchange following the company's announcement that it will acquire Coca-Cola Enterprises Inc.'s North American operations, representing about 75% of the volume of Coke products sold in the U.S. and all of its Canadian volume. At the same time, CCE will expand its European operations, acquiring Coke's bottling units in Norway and Sweden, and later possibly its 83% stake in its large German bottling operations.
GM's Chevy brand is sporting a very different look in ads that just launched during the Winter Olympics: Vignettes featuring families and friends in Chevy cars. The latest television commercials for Chevy's Equinox, Malibu, and Traverse models drop spokesperson Howie Long in favor of "very human, intimate, family moments – those that often happen in the enclosed environment of the family car – to capture the spirit of Chevy," says Bob Moore, chief creative officer of the agency that created the ads. The previous tagline, "The American revolution," is also gone.
Pepsi launched a promotional campaign earlier this month through which it will donate $20 million to good causes identified and voted upon by consumers via the program’s website. "A big brand is letting what used to be called the audience take part in what can become a movement," explained a guru from the firm that designed refresheverything.com. When noting the campaign's connection to selling soda pop, reviewers make glib mentions of "social currency" and "engagement," and are happy to point out that Pepsi broke its 23-year addiction to advertising on the Super Bowl so it could focus on this massive social media experiment. Is it possible that doing something good is an utter waste of marketing money?
Pepsi's Refresh Project, a first-of-its-kind experiment in social media that invests the brand in community-building projects, won't simply leave a legacy for the recipients of its financial grants. It's also a pivotal test case for other brands trying to navigate an ad-cluttered, cynic-rich marketing landscape.
Yesterday we posted the first five digital-marketing predictions from Millward Brown and Dynamic Logic, which looked at mobility, geo-location, viral marketing, gaming and online display. Today, we bring you the final five. And we want to know -- do you agree? What do you think will be the big issues of 2010? Here's the rest of the predictions for 2010.
It's amazing to see and hear a CEO understanding the massive consumer change that's going on and re-orienting his company around this shift. The CEO is Andy Bond of UK grocery store, Asda (owned by Wal-Mart). To bring home his point Asda organized a media event where they invited political strategist, Philip Gould to explain the change.
Yesterday, Google announced “SideWiki” a new feature of the Firefox and IE browsers (Chrome to come soon) that allows anyone to contribute comments about any webpage –including this one. The impacts are far reaching, now every web page on the internet is social and can have consumer opinion –both positive and negative. Control over the corporate website is shifting to the customers.
PSFK recently covered what the internet is killing, and this video we came across shows through various statistics how the internet is changing our lives. For example, the average American teenager sends an average of 2,272 text messages every month and more video was uploaded to YouTube in the last 2 months than if ABC, NBC and CBS had been airing new content 24/7/365 since 1948, when ABC first starting broadcasting. The cleanly presented video runs through some shocking statistics about technology and the dramatic shift of our society.
The Telegraph recently featured a list of fifty things that are being destroyed by the Internet. The article is hardly surprising given the massive shifts the Internet brings to society, but it does raise a debate about what will be missed from a bygone era and what will be rightly forgotten. The list covers the lost art of polite disagreement, various cumbersome fact checking situations and the blackout of news during holidays
Japan’s trend-chasing office workers and ladies who lunch are giving up Louis Vuitton handbags and Chanel jackets for Zara dresses and Gap jeans, making what was a favourite market for luxury manufacturers into one of their biggest headaches. The downturn is forcing customers in Japan to scale back purchases of luxury goods, accelerating a long-term shift in consumer attitudes, according to a report by McKinsey, the consultants.