Consumers in the wake of the economic downturn have become far more resilient and resourceful. Companies should be mindful that consumers will connect with brands that share similar attitudes and values.
According to a recent report compiled by Weber Shandwick and KRC Research, this showed that more than two thirds ofconsumers avoid buying a product if they dislike the parent company. The findings show that the reputation of a company and its corporate values have become increasingly influential in purchasing decisions.
Food manufacturers are becoming increasingly aware of this issue, with the Kellogg Company showing how the company is developing in the marketplace, workplace, community and environment in their latest global annual corporate report. A Kellogg spokesman, Kris Charles referred to corporate responsibility as “Loyal consumers seeing brands as a reflection of themselves, and want to support a product that aligns with their values”.
To further illustrate the importance that Kellogg places on corporate responsibility, Charles comments that “Our corporate responsibility initiatives are a fundamental part of our business, so they frequently come up in conversations with consumers. We want the consumers to know the investments we’re making” he said.
This research coincides with the latest Bord Bia ‘Feeling the Pinch’ research, which points out that brands will have to connect with consumers through a new set of attitudes and values. These new values can be seen in the table above.
If brands can successfully engage with the needs of the modern consumer, this will represent an opportunity for brands to help foster and create even stronger relationships with these consumers.