Over the last two years our lives have changed. The effects of the recession and continued economic uncertainty are changing the way we see the world, the way we make decisions, and how we define value. Promise wanted to explore this new idea of value, so we invited a group of consumers and marketing professionals to co-create the future of value:
“What is the New Value?”
If we assume that both brands and consumers will have less money to invest over the coming years, the question becomes clear: “how can we generate more value for customers and brands by exploring what really matters?” In other words: how can we be smarter about value? How can we achieve more with less?
In a single afternoon, representatives from Orange, T-Mobile, the National Lottery Commission, Thomas Cook and Aviva, together with consumers worked with digital art, painting and collage to co-create The New Value Exhibition, an exploration into new sources of value in 5 chosen sectors: Banking, Health, Food, Mobile and Retail.
(For a sneak peak at the New Value Exhibition Catalogue click here)
What we discovered is that we need to evolve a new model of value – a 3 dimensional one. The simple price-quality equation is the past. In a 21st Century experience economy much more value is intangible. Apple’s appeal – as most people have recognised – goes beyond features and into the realm of what we are calling ‘meaning’. So we see quality really as a measure of objective technical features. To get the balance right, brands need to start thinking about sources of personal meaning as a third dimension.
This entry was posted on Wednesday, 23 Nov 2011 at 1:35 pm and is filed under Co-creation, Economic downturn, Events, Insight, Qualitative research.
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