With our basic needs served (food, shelter, clothing) and with multiple choices at hand (work, health-care, relationships), we still think we need “something” more. “Something” that is not perfectly defined but something that has to do with the very fact that we are humans. To satisfy the higher order of things that has to do with emotions, recognition and education. http://en.wikipedia.org/wiki/Need
Recall the last couple of hundred years or the industrial age - we progressed rapidly and built factories, safe homes and invented faster means of transport. All the basic needs were served. It was as some call it - the blue collar economy, the 'one size fits all' approach. But, then, the computer generation or rather the information economy sprang up and made the blue collar economy obsolete. Serving basic needs is taken for granted in this age and what this economy looks to serve is the “higher needs”. The blue-collar workers of the industrial age are the white-collared men of today (the information age). The kind of work people do has changed. A person no more has to spend his entire life in a factory setting doing the same repetitive thing over and over again to earn a living. Today's jobs require education, specialized skills that one learns in school or at work and at the least, an ability to take some decisions. One needs to be able to think independently to succeed today.
Therefore, the way companies grow has changed too. Brands are no more symbols or 2D marks that just tell the name of the company – they are identities that personify the company, talk about its values and what it represents and much more. No one has seen what Intel core looks like (except may be the computer guys) – but when we see the Intel sticker on a computer, we know that there's “Intel inside... ♫ ting ding ting ding”. The brand race has changed. Industrial age was when companies decided what the consumers should have. Companies commanded and the consumers followed. But, with all the basic needs served and options available today, consumers demand and the companies need to serve. The one-size-fits-all approach does not hold foot anymore. (Of course, most of the thoughts I have discussed so far, apply to the Western developed countries)
With globalization and people moving all across continents, the markets are more diverse than ever. Companies need to define, focus and then serve target audience out of these markets. One-size cannot fit all - the more the targeted the audience the easier for the company to set objectives and give more personalized and targeted products. Its no more about just serving needs - needs are served anyway - its no more just about price - people pay a lot of money for the brands/ services they like/ want - Its about giving the experience. Its about making the consumer feel “special”. I like the way Marc Gobe puts it in Emotional Branding - “Cultural Relevance + Meaning + Emotional Connection = Loyalty.”
As we know, life in the information age is complex - of a higher order. We live in cities full of people and in big apartments with 100s of neighbors around, and don't even know who our neighbor is. We look to satisfy our need for recognition and our emotional needs. Relating to a brand that satisfies these needs is a manifestation of the same trait. This is natural for us. A brand that gives a unique identity and relates to our needs and gives unique experiences will succeed in today's information economy.
Recall the last couple of hundred years or the industrial age - we progressed rapidly and built factories, safe homes and invented faster means of transport. All the basic needs were served. It was as some call it - the blue collar economy, the 'one size fits all' approach. But, then, the computer generation or rather the information economy sprang up and made the blue collar economy obsolete. Serving basic needs is taken for granted in this age and what this economy looks to serve is the “higher needs”. The blue-collar workers of the industrial age are the white-collared men of today (the information age). The kind of work people do has changed. A person no more has to spend his entire life in a factory setting doing the same repetitive thing over and over again to earn a living. Today's jobs require education, specialized skills that one learns in school or at work and at the least, an ability to take some decisions. One needs to be able to think independently to succeed today.
Therefore, the way companies grow has changed too. Brands are no more symbols or 2D marks that just tell the name of the company – they are identities that personify the company, talk about its values and what it represents and much more. No one has seen what Intel core looks like (except may be the computer guys) – but when we see the Intel sticker on a computer, we know that there's “Intel inside... ♫ ting ding ting ding”. The brand race has changed. Industrial age was when companies decided what the consumers should have. Companies commanded and the consumers followed. But, with all the basic needs served and options available today, consumers demand and the companies need to serve. The one-size-fits-all approach does not hold foot anymore. (Of course, most of the thoughts I have discussed so far, apply to the Western developed countries)
With globalization and people moving all across continents, the markets are more diverse than ever. Companies need to define, focus and then serve target audience out of these markets. One-size cannot fit all - the more the targeted the audience the easier for the company to set objectives and give more personalized and targeted products. Its no more about just serving needs - needs are served anyway - its no more just about price - people pay a lot of money for the brands/ services they like/ want - Its about giving the experience. Its about making the consumer feel “special”. I like the way Marc Gobe puts it in Emotional Branding - “Cultural Relevance + Meaning + Emotional Connection = Loyalty.”
As we know, life in the information age is complex - of a higher order. We live in cities full of people and in big apartments with 100s of neighbors around, and don't even know who our neighbor is. We look to satisfy our need for recognition and our emotional needs. Relating to a brand that satisfies these needs is a manifestation of the same trait. This is natural for us. A brand that gives a unique identity and relates to our needs and gives unique experiences will succeed in today's information economy.
