Analysis

How brands can meet consumers’ expectations in 2023

 

By Adetunji Faleye

Brands and consumers today have a complex relationship. Consumers have access to a wide range of information and options when it comes to making purchasing decisions, and they often rely on reviews, ratings, and recommendations from other consumers.

 

This means that brands need to be transparent and provide high-quality products and services to earn and maintain the trust of their customers.

 

Brands also need to be mindful of the social and environmental impact of their products and operations. Consumers today are increasingly aware of the impact of their purchasing decisions on people and the planet, and they often consider sustainability and ethical practices when choosing which brands to support.

 

In order to meet the needs and expectations of today’s consumers, brands need to be responsive and adaptable, constantly evolving and improving their products, services, and business practices. This often requires a combination of innovation and a deep understanding of consumer needs and preferences.

 

Sadly, many brands in Nigeria now a day have not shown enough responsiveness to what consumers are going through during this tedious economic hardship in the country. Invariably, these are already devastating effects on their sales as consumers are no longer loyal to a number of brands.

 

For brands to command consumer loyalty in 2023, there are certain expectations they need to meet. Some of the expectations are:

 

Honesty and transparency: Consumers may expect brands to be honest and transparent in their marketing and advertising practices.

 

Responsiveness to customer needs: Consumers will be interested in brands listening to their needs and concerns and be responsive to them.

 

Social and environmental responsibility: Consumers will also expect brands to be socially and environmentally responsible in their business practices.

 

Innovation: Innovation is key in today’s world, therefore, consumers will expect brands to stay current and offer innovative products and services.

 

Quality: Quality remains imperative in any business. Interestingly, consumers will expect brands to offer high-quality products and services that will commensurate with the value of their money.

 

These are just a few potential expectations that consumers may have of brands and the marketing industry. It’s important for brands to stay attuned to the needs and expectations of their customers in order to build trust and loyalty.

 

 

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