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Saturday, November 19, 2005
Promote values, win consumers
PROMOTING local cultural values in marketing could be the key in winning the “hearts, minds and even the purses of consumers” in an increasingly competitive global market place today.
Mike Amour, chief executive officer of Grey Global said in his talk, “Shifting Brand Paradigms: What Constitutes a Strong Brand in the Age of the Empowered Consumer,” that marketing is now in the business of building cultural brands that are tied to values and ethics.
“The key to building a strong brand that will stand tall in this changing market is to keep in step with the changing cultural values all over the world. Now, more than ever, the company should build a corporate image aligned with cultural values,” he said.
Cultural brands mean effective advertisements contain emotional elements that reflect local culture, he explained.
“This is the key to eliciting trust from consumers and once trust is gained, it simplifies the consumers’ purchase decisions,” he added.
Amour’s presentation during the 19th Philippine Advertising Congress at the Waterfront Cebu City Hotel and Casino was based on a research on Asian consumers conducted by Grey Global.
Some 2,692 participants from the advertising and media industries showed up during the opening of the advertising congress, said Meryll Schlachterman, the event chairperson.
She added they are expecting to hit the 3,000 mark today.
This is the third time Cebu is hosting the congress, which is held every two years.
Changes
Amour, who is one of the speakers of several issues in the three-day congress, said the study showed changes in consumer culture.
“Although the Asian market is consistently inconsistent and can’t be averaged, the study indicated some drastic changes in consumer culture that have far-reaching ramifications in the way companies build brands,” Amour said.
Among the key findings in the study is that “industrialization coupled with urbanization is driving the pace of life such that Asians are experiencing higher levels of pressure and stress than ever before…The markets have an appreciation of family and cultural values, notwithstanding that modernization is breaching these values.”
While Asians aspire for affluence, abundance and success, they also draw back at the “excessive stress that come with these.” (ALC)
(November 19, 2005 issue)
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