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'On-Trend' Innovation & Marketing Concepts: The Sensory Mega-Trend
Datamonitor, May 2008, Pages: 73
Overview
Catalyst
Summary
Analysis
INTRODUCTION: Using trend frameworks develops the means to boost the quality and frequency of insight generation and new product planning
There is a funnel approach to identifying the manifestation of trends
TREND: Innovation is a major driver of growth but is a challenging process
A number of internal problems can lead to ineffective approaches to innovation
Four different types of innovation strategy exist
One of the major hurdles to successful innovation appears to be capturing consumers imagination
TREND: New sensual products and concepts are emerging as consumers seek more pleasure, intensity and sensation from consumption
TREND: Enjoyment driven consumers are becoming more experimental which makes an emotional connection all the more important
INSIGHT: Manufacturers must capitalize on the desire to experiment by arousing curiosity
VERDICT: Manufacturers must actively tempt today's inquisitive consumers
INSIGHT: Manufacturers are creating additional sensual appeal by manipulating the key sensory attributes of products
VERDICT: Intensifying product sensory appeal must be an important innovation objective
INSIGHT: Sensory Marketing reflects how industry players are using scent in a creative and innovative manner to engage shoppers
VERDICT: Marketers are beginning to realize that scent is extremely powerful in shaping perceptions and forging an emotional connection with consumers
INSIGHT: Sonic Branding is another emerging discipline in the broader discipline of sensory marketing
VERDICT: A branded audio identity can help differentiate brands in crowded marketplaces
INSIGHT: Sensory Packaging is a powerful tool for evoking consumer desire
VERDICT: Any packaging concept that enhances the sensory properties of products has the potential to be a key differentiator and is thus highly valued by shoppers
INSIGHT: Erotic branding and shock advertisements are marketing concepts being used to bring brands into consumers consciousness
VERDICT: Marketers should approach evocative, shock based marketing with caution
INSIGHT: Offering brand experiences has become an important branding imperative in the experience economy
VERDICT: Experiential Marketing and Experiential Retailing will grow in relevance and popularity because it provides a foundation for brand interaction, product trial and brand engagement
INSIGHT: Multi-sensory marketing brings together many of the above sensory platforms into one compelling selling proposition
VERDICT: Multi-sensory branding can help to establish an emotional connection with shoppers
TREND: The trend towards authenticity and provenance is beginning to impact mass market products
INSIGHT: Origin specific and traceable goods have added appeal to today's discerning shoppers
VERDICT: Being more open and transparent will become a key feature of marketing communications in the future, especially with more brands using provenance as a point of differentiation
INSIGHT: The growing importance of authenticity and provenance means that touting brand heritage becomes increasingly important
VERDICT: Terms like heritage, authenticity and personality can be seen as the building-blocks of an aspirational brand image
TREND: More affluent and expectant consumers are trading up more frequently
INSIGHT: Manufacturers must re-align products to reflect changing perceptions of what is considered to be premium or luxury
VERDICT: Being a mid-market brand is a dangerous place to be
INSIGHT: Premium is still a high price related to extraordinary factors perceived and experienced by consumers
APPENDIX
Definitions
Methodology
Further reading and references
Ask the analyst
Disclaimer
List of Figures
Figure 1: Mega-trends are having a long-term and substantive impact on the marketing landscape and can be grouped into two categories
Figure 2: Consumer behavior and the innovations targeting it inevitably fit into a trend hierarchy
Figure 3: There are four different approaches to innovation and six kinds of innovativeness rating
Figure 4: Attitudes towards innovation vary markedly and influence the inability of new products to capture the imagination of CPG shoppers
Figure 5: There are numerous factors influencing sensory trends in consumer packaged goods
Figure 6: The sensory mega-trend reflects consumers desire for experiential pleasure, intensity and sensation from products
Figure 7: People are looking for new consumption experiences so industry players must carefully consider how to arouse consumer curiosity and induce product trial
Figure 8: Marketing communications and actual product features can be manipulated to maximize the visual dynamics and sensory appeal of brands
Figure 9: Beer manufacturers are actively targeting more adventurous palates with fruity beers
Figure 10: Food and beverage marketers are delivering additional sensory excitement with new textures, bolder flavors, flavor blending and co-branding with iconic branded flavors/ingredients
Figure 11: Manufacturers are looking to reinforce the sensual credentials of products though engaging brand names and written communications while Guinness typifies efforts being made to help consumers replicate third-place experiences and quality within the comfort of their own homes
Figure 12: Opportunities exist to use scent in a more creative and engaging manner
Figure 13: A variety of brands have been using brands in different ways to create a sonic identify
Figure 14: Easily confusable, active packaging and intelligent packaging are actually two distinct concepts
Figure 15: There are a number of new smart packaging/label innovations entering the market
Figure 16: Packaging materials can be manipulated to enhance the sensory experience for consumers
Figure 17: Brands are using edgier, erotic and shock tactics to get noticed in an increasingly cluttered marketplace
Figure 18: Experiential third-places are becoming an established part of experiential marketing campaigns
Figure 19: Experiential marketing exists on different levels
Figure 20: The search for authenticity reflects consumers active pursuit for higher quality experiences from consumption
Figure 21: Health and provenance conscious consumers want to know about the products they ingest or topically apply so manufacturers are making greater efforts to be transparent
Figure 22: Provenance/locality and production details are issues that increasingly matter to shoppers
Figure 23: Iconic imagery can add an authentic aura to a marketing communication
Figure 24: Touting brand heritage becomes increasingly important in light of the growing importance consumers attach to growing importance of authenticity and provenance
Figure 25: Using ordinary people in marketing looks set to become a more established feature of marketing campaigns
Figure 26: Firms in the middle need to move either up or down-market or face 'death in the middle'
Figure 27: Mass market brands are having to premiumize just to stay relevant
Figure 28: While many brands should be looking to premiumization opportunities, PJ smoothies is an example of how industry players must be prepared to re-align products towards the lower end of the market as well
Figure 29: Manufacturers must excel - more than competitors - in the provision of factors associated with the Premium Price Index (PPI)
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