Trends and looking ahead
- Consumer behaviour
Implementing Life Cycle Management helps businesses take better quality or higher performing products to market, that consumers will see as attractive or holding real value. There is a growing level of environmental awareness in the consumer market, with the sentiment that we would all like to contribute to a more sustainable planet. This is resulting in a global trend from consumers to incorporate environmental considerations into their purchasing decisions. This provides an opportunity for businesses to differentiate their products and services as environmentally preferred.
The challenge for business is to develop products and services that deliver environmental benefits, without compromising, and even improving on quality, functionality, performance and certainly not at too high a price. Although this may prove a challenge in some industry sectors, others have very successfully identified and carved out a niche for the marketing of environmentally friendly products. One way a number of businesses are responding to this challenge and opportunity is by redesigning the business model and focusing on the service demanded, rather than the product.
The rule of thumb is that if you know your customers' drivers, can test your products before making large scale investments and can offer clear value proposition, then you are well positioned to seize the emerging opportunities in this marketplace.
The following articles provide evidence of markets successfully responding to this challenge.
Buying responsibly - A new brand strategy?
The rush to be green
Annual LOHAS survey finds high consumer interest in corporate responsibility
Buyers clamour for homes near "lifestyle" shops
Locals set great store by convenience.
Out of the health shops and into the supermarkets
New standards for organics
Is organic food the future?
A new business model - redefining products
Examples include:
- Interface Flooring - who provide the service of floor covering rather than the carpet itself
www.interfaceaus.com.au - Care share businesses - provide the service of a car, rather than the car itself
Flo car share: a smarter way to get around
Go Get: Freedom
