In an unprecedented whoosh, the business community’s welcoming back social valuation and difference in the marketplace. “Wow it really was starting to stink around here,” said one reputable marketing executive who would rather remain anonymous. “But you know, the reality is that this whole recession may be just what we needed!” The exec went on to say that the whole marketplace had become so overly commodified (lacking social value for the sake of commercial value) and commoditized (lacking any real difference across products and services) that we were really trading and selling stuff of very little value to people. “Now,” he said, “we’re seeing our customers seeking out, finding and demanding social values from what they buy and real difference in the products and services they receive.” He went on to say “It’s marketing 101, I know that. But it’s real breath of fresh air. And ultimately we all win with this new direction.” He finished by acknowledging the shame in the whole process – that it took a painful great recession to set off this new direction. “But at least change is in the air,” he said.
March 25th, 2009 - Posted in Anthropology, Behavior, Consumer Products, Cultural Trends, Habits | |
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I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.
Sarah
http://grillsblog.com
As a marketing researcher with an anthropology background and experience abroad in developing countries, I believe commoditization in this country has been taking place for decades. When I returned from Sudan, I was overwhelmed by the simple task of buying laundry soap. There were boxes and boxes of branded, but largely undifferentiated soap.
The internet has helped the trend accelerate, with online social media acting as rocket fuel. How? Commoditization requires the ability to efficiently compare similar products - their features, availability, price, and the like. Comparison has allowed consumers to see that, beyond branding, differentiation may be quite small; hence, price becomes the deciding factor.
Adding social value should make it difficult for consumers to make purchasing decisions based strictly on price. How will a consumer compare saving the polar bear’s Arctic habitat with the saving the Amazon rainforest? My guess is that a consumer will gravitate to one or the other - not reducing the value of one over the either, but simply because their emotional empathy will be uncontrollably stronger with polar bears or with the rainforest. Stripping away the excess commoditized “stuff” cluttering the consumer landscape will simultaneously do good for the world and add a “breath of fresh air” to marketing.
While people may have different views still good things should always be appreciated. Yours is a nice blog. Liked it!!!
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