More perspective on perception and value.
From this week’s issue of Iconoclast, from Iconoculture:
“Tell me what you want … what you really, really want.’ The Spice Girls sang it. Marketers live it. But figuring out what consumers really, really want can be a scattershot science. With credit so easy to get and living in debt so accepted, the decisive moment between desire and attainment has never been briefer.
No wonder 81% of Americans say they feel social pressure to buy high-priced goods (New York Times 5.29.05). Pushing product may give consumers a short-term glow, but long-term financial health is a sell that will only become more valuable as Americans wake up to record numbers of personal bankruptcies (and tighter laws that will put up new barriers to that alternative), rising healthcare costs and gas prices, rumors of economic inflation and a hit on the stock market, a generation of Boomers panicking about their lack of retirement savings…
Oh, doom and gloom. But we still want the goods! So where are consumers turning? Some are scrimping here to splurge there. In the automotive world, “subluxury” is the fastest growing trend. Lower-priced versions of luxe brands coo “baby, you can drive my car.” And knockoffs, for many, have become faux, faux fine. Sometimes, real enough can feel just right. Especially when it doesn’t blink red on the personal bottom line. ”
I’d add that this is exactly what companies like Starbucks plug into…most of us can’t afford dinner at The French Laundry (even if we could get reservations)…but we feel entitled to (and can sorta afford) spending 4 bucks on a Frappuccino a day (which is really just a watery milkshake and I know that…and am still addicted.) Never mind that if we saved what we spend on those daily trips to Starbucks - we could eventually afford that sublime dining experience (or make a really nice - and much appreciated - donation to the local foodbank.)
P.S. Much of what applies to consumer marketing also applies to B2B…You’re still selling to people in B2B, just ones with bigger budgets.
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