Consumers no longer expect brands to merely market their products, but to provide reliable and accurate information, take a stance on social issues, and make a positive contribution to society and the community. At the same time, people are increasingly concerned about the spread of fake news, which impacts their perception of media channels, social media platforms, and brands.
Conventional wisdom suggests that true creators come up with novel ideas in sparks of genius. Many people don’t see themselves as artists or creators or doubt their creative abilities because they believe that artists constantly reinvent the wheel.
By definition, consumption is ritualistic and all rituals have heroes. Consumers become actors that play the role of the hero to satisfy their ego through consumption. When identifying with a brand and consuming its product, we hope it will transform us into a better, heroic person.
Consumers are quick to condemn brands that don’t do the right thing.
The rules of perceived value are changing amidst COVID-19. The pandemic has brought to light new drivers of perceived value, threats to named brands, and ways to protect and grow your brand through this crisis and beyond.
