The Consumer, Co-Authored by Stuart Murphy
Good business competes and operates alongside that same short-sighted crony capitalism that has driven many to occupy the streets of the world in protest. In the absence of people who care — unethical, unsafe, environmentally unfriendly, and toxic business occurs. Meanwhile good business struggles without much buy-in from the masses. But why?
Purchasing decisions are largely made on convenience and price. Behavioral change is largely ineffective if it falls outside these lines. Many consumers assume that products that achieve social worth are expensive, less efficient, and are hard to obtain. This is simply not true. Innovations of financial competitive, safe, healthy, green and easily accessible products exist across all industries; from energy production to fashion & beauty.
Fundamental change won’t occur unless people shift their behavior and choose with their wallet.
Traditionally, consumer choices are made along four ‘P’s in mind – product, price, place, and promotion. Today’s consumer is faced with a fifth ‘P’ – purpose. The idea of ‘purpose’ as an indicator is growing fast. And while 70% of consumers say they would be prepared to pay more for a brand that supports a good cause they believe in, good business hasn’t hit mainstream for the average consumer.
Purpose itself carries no weight if people do not understand the story of stuff or that we are designing products to fail. The truth is that there are a finite amount of natural resources available to us, a ticking clock so to speak. Today, most consumers view ‘good’ products as a friendly alternative instead of a solution to a growing problem.
Conscious consumption is seen as a chore. It requires research and effort to make these important distinctions at the point of sale. But why would major retailers produce more ‘good’ products if the majority of people are satisfied with the status quo?
People are attracted to the idea of a good economy. However, the acknowledgement of a good economy and partaking in it each and every day are two very different things. People express themselves through the brands they purchase and companies are beginning to realize that they can’t only be about gaining monetary profit. To survive in this good economy , companies need to make sure that their brand upholds to the standards of the changing consumer. It’s already happening.
To help navigate “The Consumer” space in the good economy, we’ve assembled a working list of resources below to help you succeed. We don’t claim to know it all so please pay it forward and comment with your input so that we can effectively grow the good economy together.
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