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Consumer
understanding has become an important part of marketing in
the modern economy, and it is essential for a company to be
close to the consumers so as to create imaginative solutions
to cater to their changing needs. Today's sophisticated companies
are more consumer-centric and less product-centric. These
companies are no longer just practicing consumer-centric marketing,
but wearing it as a badge of honor. There are various factors
that have resulted in the acceptance of consumer-centric approach
to marketingthe basic premise being to understand consumers
before engaging them in any commercial transaction. The rise
of consumer behavior within the discipline of marketing has
also helped propel the consumer-centric approach. Most successful
movements in business have started this way.
However,
of late, because of the peculiarities and the changing dynamics
of the marketing industry, companies are asking consumers
for their opinion on a wide range of brand issues like brand
extensions, packaging, advertising, distribution, etc. Though
this leads to a better understanding of the consumers and
provides fresh insights into the role of brands within the
context of the consumers' everyday social, personal and cultural
lives, the reality is somewhat different. Companies are paying
too much attention to what consumers say and want. This has
led to the proliferation of consumer-led brands; companies
have customized the offerings/products to the exact requirements
set by the consumers. The consumer-led brands have gone beyond
mere understanding of the consumer needs. These brands tell
the consumers, "We can be anything you want us to be."
Though this strategy should result in brands satisfying the
consumers, Helen Edwards and Derek Day, authors of the book,
Creating Passion Brands, Getting to the Heart of the Branding,
do not think so. They argue that these consumer-led brands
"fail to surprise" and are "ultimately disappointing."
They opined that these consumer-led brands have become similar
and are not sufficiently differentiated with each other, so
the consumers have limited choice of brands. |
