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Meaningful brands wanted by 84% of consumers around the world Meaningful brands wanted by 84% of consumers around the world

Meaningful brands wanted by 84% of consumers around the world

Consumers expect meaningful brands to focus on functional, personal and collective benefits, as stated by Havas Media’s study
TecnologiaZPortada Izquierda 7 November, 2019 user2 0
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Inici » Historic » Meaningful brands wanted by 84% of consumers around the world

Meaningful brands do not only sell products. They explore how to improve people’s lives and the role that they play in society.  Havas Media, the media division of the global marketing and communications group Havas, presents a study every year. The analysis, called ‘Meaningful Brands 2019’, reflects consumer’s increasing demands on brands. In a conference at Abat Oliba CEU University, Dionisia Mata, the Insights Director of Havas, presented this year’s study. According to Mata,  84% of consumers on a global scale think that brands should communicate genuenly about their commitments.

meaningful brands

Presentation of the study ‘Meaningful Brands 2019’ at Abat Oliba CEU University.

 

More than a product, meaningful brands are a state of mind

After 10 years of analysis, the group has observed that consumers are highly demanding with brands. They have also noticed that they want more than just a reasonable price and a quality product. They ask them to participate actively in social and environmental issues. Some of the meaningful brands that are already engaging on this are P&G regarding gender equality, Ben & Jerry’s regarding LGTB rights, and CVS pharmacy regarding health. As a result, 55% of consumers have more hope on companies to create a better future than on governments.

But there is still a lot of work to do. Only 38% of customers believe that companies and brands are devoted to committing to these demands. What they expect from meaningful brands is to fulfil functional, personal and collective benefits. That is, they should answer positively to these questions: Does the product or service fulfil its function? Which brand attributes improve people’s lives? What is your role in society?

However, there is a clear distinction of the consumer profile between countries. Economy is the key factor that produces this. In developed economies, consumers have a better knowledge of meaningful brands and of how the market works. Therefore, they are more exigent. “We are in one of the countries where consumers are pissed off”, says Mata. So the final question is: How can meaningful brands inspire relevant connections with their clients? 90% of them consider that one of the best ways is providing experiences, solutions, entertainment, stories and events.

 

Elia Marcos and Benjamin Baixeras

 

 

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