What is going on in the world that you can capitalize on? What unique consumer or business-to-business trends can you leverage from a marketing perspective and also from a new product or product improvement perspective?
Consumers are gaining more power; attracting their dollars is more about listening than ever before.
The turning point for me in witnessing the recent increase in the power of the consumer spending occurred when the archetype of American dietary habits, Wonderbread, changed their recipe abut two years ago.
Fiber has become an important lexicon in our dietary vocabulary and it is changing the way we look at the food we buy. Large multinational packaged goods companies are changing their products to comply with new consumer demand for more fiber in their diet. This is an example of the power of consumer demand, and that companies are listening.
In the past these huge packaged goods companies had almost complete control over what we ate. Their focus and attention was to their shareholders and profits (as well they should) and NOT to how additives and lack of fiber in our food not to mention the large volume of sodium and sugar were contributing to a growing nutritional health crisis. But new nutritional science has educated consumers and these companies are being forced to change.
The fact that one of the best known white bread brands on the market is now including (or should I say putting back) whole wheat into their breads illustrates the power of consumer spending. Customer demand can contribute to changing pretty much anything. The companies that are winning are those that are listening or better yet exploring the industry and consumer trends and anticipating the new pains that can be solved with their products.
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