CONSUMER SPECIAL........ From “Getting Value Now” To Also “Getting It Right”

From “Getting Value Now” To Also “Getting It Right”

Nestle’s Suresh Narayanan on managing the seemingly contradictory impulses that
consumers are driven by

Consumers want ‘instant value’ delivered with a ‘long term value creation mindset’. Music and movies on demand, a taxi at your fingertips, instant noodles and instant coffee produced and marketed responsibly is what consumers want.

“I want it now” and “I want it the way I like it” talks to the need for speed and personalisation. “It should be good for me” and “good for the planet” talks to the need for a long- term value creation mindset. Brands that can straddle both these worlds will be the ones that win in the future.

In an era of fast paced technological change and evolving consumer preferences, established brands will have to learn how to stay relevant. 2018 is going to be about drawing consumers closer by being responsible, transparent and focusing on sustaining longterm relationships that add value.

Some trends which brands can look at embracing in 2018:

There Is No Such Thing As Too Much Transparency

Consumers and other stakeholders will become more demanding when it comes to transparency in relation to how companies and brands operate. They want to know the ingredients that go into the making of a product, where it is being sourced from and host of other information. Food and beverage companies will put more emphasis on over-communicating in this regard, leaving no space for ambiguity about safety and trustworthiness of their products. Transparency in labeling, ethical sourcing, safety and quality of products will become a critical ingredient for success.

Keep Health And Wellness At The Core

Brands must aim to enable healthy and productive lives for consumers in a framework where products are purchased not only for taste but also for the nutritional value. Brands will increasingly commit to products with better nutrient value and food that is fortified, keeping health and wellness at the core. This is how they will build a long-term relationship with customers and add value to their lives.

Place The Consumer At The Heart

The consumer landscape is evolving rapidly across India. The challenge faced by consumer marketers in our country is understanding and engaging with many ‘Indias’ within India, where every 100 kilometres, people experience a different India and diverse consumer behaviour. Brands will have to embrace the varied needs, habits and perception of our rich consumer base, by engaging with them through localisation and personalisation of product offering. Brands will be responding to this with innovative formats, new experimentation, compelling experiences, introduction of ethnic flavours, exotic ingredients and regional specialities keeping the consumer at the centre.

The Power Of Purpose

Consumers are looking for brands they can believe in, a brand that has a social impact, which can change lives.

Brand stories that will rule 2018, will not be about what product do they sell but those that create an emotional connection with the consumer, telling real life stories about various people who bring the product to life, for example the farmer, the local community, the labourer, the supplier, the distributer, their family and the environment. 2018 will demand increased corporate responsibility from companies and their brands, making sure that businesses stay committed to the community they work with.

Digital Content Will Trump Digital Volume

‘What you say, how you say’ and the impact communication has on a conversation will become more relevant than just megabits of data spewed onto the social media platforms. Digital savviness will not be about using just sophisticated listening tools but also crafting content to meet the "heart beat” of your target audience and building deeper connections with them.

BE10JAN18