According to a new research study conducted by Context-Based Research Group and Carton Donofrio Partners, 78% of Americans agree that the American Dream has died. And that’s not a bad thing:
“We see that a new dream - focused on freedom and ideals rather than material possessions - is being born.”
The research findings show that Americans are going through a five stage process to achieve this new dream:
1. I no longer want to be identified by what I buy
2. I cut back on my credit and started to save
3. Transacting live is not as valuable as building relationships
4. I’m getting rid of value-less things and surrounding myself with people and things that matter
5. Now I’m more strategic and smarter - connecting my emotional, rational and social senses to how I live and consume
This shift to the “New American Dream” will have impact on marketers, for sure. One thing that comes to mind is the notion of showing customers how brands, products and services fit into their lives in a way that is relevant to their shifted values. A good model for this might be Walmart’s current brand campaign “Save Money, Live Better”.
In the direct marketing channel, DMers may need to rethink product USPs and benefits, and develop new and thoughtful ways to articulate them in a transactional environment. Â
This entry was posted on Tuesday, February 2nd, 2010 at 10:59 am and is filed under Consumer Strategy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.