Consumer expectations are constantly changing. We live in a complex world with complex issues — and consumer expectations are constantly influenced by the current events, trends, technologies, environment, etc. that impact consumer lives. How well brands consistently meet these consumer expectations will ultimately determine their success or failure.
Brands have seen a dramatically heightened increase in consumer expectations due to the recent major events we are experiencing such as COVID-19 and racial tensions, among other things. Consumers have a heightened fear of illness, unemployment, social distancing, creation of a vacccine, and the uknown of the new normal. Recent racial tensions due to police brutality have led to riots, protests, and policy pressures.
As Robert Passikoff says in this discussion, "Categories are not insulated when it comes to expectations. It’s like an oil spill. It doesn’t stay in one spot, but spreads. Heavier in one area than another perhaps, but no place is ultimately left unaffected."
In times like these, no brand is immune to a change in consumer expectations.
This is a discussion with Robert Passikoff, Founder & President, Brand Keys and Bill Hanifin, Managing Editor, Wise Marketer.
Brand Keys is a brand research consultancy specializing in predictive consumer behavioral brand equity, loyalty, and engagement metrics.