Brands Will Help To Consume Less

The Future Brands Will Help To Consume Less It is believed that more consumption is good in mass marketing. Marketers focus on intensifying penetration and frequency by selling to new customers besides selling more often to old customers. They work a lot on consumer preferences, product design, features packaging and pricing to the positioning of the products on the shelves. Brands aid them to do this efficiently by making things appealing, easy to recognize and frolicking on unconscious craving.

So we quite frequently consume wrong things than we need all that wastes money, time, and the scarce resources. For example, it is estimated that American people throw away twenty pounds of food per person every month, diners in China discard food that is enough to feed two-hundred million people each year and we dispatch hundreds of millions of mobile phones to landfill on a yearly basis. Not just that, but potato chips, soda drinks, and other convenience food makes us fat, more than other food items. So unthinking mass consumption, and the brand marketing that propels it, has to change before things goes out of control and we end up drifting in floating chairs like the human being in Wall-E. The future brands will be selling the same dreams, but will additionally furnish the reality in a better way. As we are in living in a tech era, so we can track exactly what we should consume and how much it costs both separately and mutually. Branded products and services are correlated to the people that use them, so specific brands and firms behind them can identify and learn how those brands are being used.

Retail banks nowadays propose services that give you the benefit of tracking all your transactions. This gives enough insights for the bank to improve the customer loyalty. There are fitness gadgets like Nike Fuelband and Fitbit which tracks and gives the real-time information

about physical activities. In car insurance, firms have been presenting telematics to peg premiums to actual usage for years.

This would mean brands are using customer’s personal information so that they could recommend more ways of consuming their products.

Reputed and renowned organizations now disclose what ecological and social impact their products are having on the world like carbon dioxide emissions and how they are using scarce resources. These global retailers build their loyalty schemes on this disseminated information as to gain confidence of the customers. But, this way they are inclining us to use their products more often, and not less.

Now the question is about how will our future consumption pattern look like? The super stores deliberately selling less quantity of a product in smaller packages. There would be offerings like access to mobility rather than just selling a car. Insurance premiums would be based on individual behaviors and not on actuarial tables and other similar offerings.

So

eventually all this would be on the interest of building loyalty factor of the customers and not manipulating them. But which brands are going to bring balance to our lives.

Reference: http://www.researchomatic.com/Future-Of-Branded-Products-Vs-Private-LabelProducts-23741.html