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Coolness and Consumer Packaged Goods 2003Published by: Datamonitor Published: Jan. 4, 2004 - 84 Pages Table of ContentsTABLE OF CONTENTS CHAPTER 1 EXECUTIVE SUMMARY 3 Hot topic 3 The future decoded 4 Action points 6 General marketing strategy 6 Communicating cool 7 The product offering and price 8 CHAPTER 2 THE FUTURE DECODED 16 Introduction 16 The importance of coolness in consumer packaged goods 16 The emergence of ‘cool consumerism’ 16 The drivers of cool consumerism 19 Defining coolness 25 Exemplifying coolness as a perception and attitude 26 Distinguishing between fashion and coolness 27 Psychosocial benefits of coolness to consumers 27 The attributes of cool 29 Understanding the differing types of coolness 29 CPGs do not have to be exclusive to be cool to many consumers 30 The three consumer groups and levels of cool 31 Characteristics of Opinion Formers 34 Characteristics of Adopters 37 Characteristics of Regulars 41 Quantifying Opinion Formers, Adopters and Regular consumers 42 Conclusions 49 The importance of cool varies by category 49 CHAPTER 3 ACTION POINTS 52 Introduction: remain benefit focused, not cool focused 52 Concentrate on fulfilling high level need states 54 General marketing strategy 55 Communicating cool 55 The product offering and price 56 Be clear about what type of cool you are aspiring to 57 Use focused brand segmentation to target different groups 57 Stay loyal to the consumers who give you cool credibility 59 Strive for sustainable long term coolness, not faddishness 59 ‘Seed’ rather than ‘bombard’ the marketplace 60 Hire cool advocates to spread product credibility 61 Packaging - think fashion and use it to create a cool image 62 Give the product a retro look 63 Give the product a textured and professional look 63 Use cool characters to give the product distinction 63 Making a product a home accessory 64 Undertake detailed consumer research 65 Learn the specific ingredients of cool for your category 65 Profile your disassociative group 66 Do not be dismissive of social fashions and fads 67 Keep focusing on what is cool for the on-trade 67 Offer high quality and authentic products to older consumers 68 Continuously update your product offering to stay relevant 68 Ensure product adaptability when offering cool to youths 69 Communicate cool with understated and subtle messages 70 Use celebrity endorsement to establish mainstream cool 71 Be selective in using certain celebrities 72 Associate products with naturally cool everyday occasions 72 Produce branded memorabilia that consumers interact with 73 Explore the potential to tap into the urban mindset 73 Associate your brand with cool aspects of popular culture 74 Associations with sport 75 Associations with fashion and art 75 Associations with music and parties 76 Give your brand an attitude to appeal to younger consumers 77 Embrace below-the-line campaigns and alternative media 77 Make your products interactive and fun if targeting 8-14 year olds 78 Use pricing to control consumer perceptions of cool 80 Offer the mainstream affordable cool 80 CHAPTER 4 APPENDIX 81 Report definitions 81 Research methodology 82 Bibliography 83 How to contact experts in your industry 84 LIST OF TABLES Table 1: Historical and contemporary components of cool 18 Table 2: Gross income comparisons between 14-24 year old groups, Europe, ($/capita), ($bn), 2002-2007 21 Table 3: Gross income comparisons between 14-24 year old groups, US, ($/capita), ($bn), 2002-2007 21 Table 4: Consumer spending influenced by their fear of aging, by country, by country, $m, 1997-2007 24 Table 5: Brands identified as cool by teens, 1999 30 Table 6: Perceptions of media effectiveness in making a product appear cool or trendy, US consumer vs. US industry respondent perceptions, %, 2003 39 Table 7: Perceptions of media effectiveness in making a product appear cool or trendy, EU consumer vs. EU industry respondent perceptions, %, 2003 40 Table 8: The total number of Opinion Formers, Adopters and Regulars in the US, #m, 1997-2007 44 Table 9: The total number of Opinion Formers, Adopters and Regulars in Europe, #m, 1997-2007 44 Table 10: Opinion Formers, aged 15+, by country, #m, 1997-2007 44 Table 11: Adopters, aged 15+, by country, #m, 1997-2007 45 Table 12: Regulars, aged 15+, by country, #m, 1997-2007 45 Table 13: Number of ‘Opinion Formers’ for CPGs (on average) by age group and country, #m, 1997-2007 46 Table 14: Number of ‘Adopters’ for CPGs (on average) by age group and country, #m, 1997-2007 47 Table 15: Number of ‘Regulars’ for CPGs (on average) by age group and country, #m, 1997-2007 48 Table 16: Consumer judgment on the importance of the 'cool' factor when making purchases from different categories, EU vs US, % respondents finding cool to be “very important” or “quite important”, %, 2003 49 Table 17: High level need states beyond coolness 54 Table 18: Distinguishing between ephemeral cool and long term classic cool 60 Table 19: Examples of current on-trade trends 68 Table 20: Definitions 81 LIST OF FIGURES Figure 1: Consumers’ views on the importance of personally feeling cool about the way they live their lifestyle, EU vs. US, %, 2003 17 Figure 2: Consumers’ views regarding whether marketing affects their view of a product as cool or not, EU vs. US, %, 2003 20 Figure 3: Consumer influences driving expressions of cool 26 Figure 4: Consumers’ views on the importance of being seen as ‘cool’ in the eyes of others, EU vs. US, %, 2003 28 Figure 5: Levels of cool: exclusive vs. masstige vs. mainstream 32 Figure 6: Perceptions of media effectiveness in making a product appear cool or trendy, US consumer vs. US industry respondent perceptions, %, 2003 39 Figure 7: Perceptions of media effectiveness in making a product appear cool or trendy, EU consumer vs. EU industry respondent perceptions, %, 2003 40 Figure 8: Consumers’ response to whether they buy CPGs because it helps them construct a ‘cool identity’, EU vs US, %, 2003 53 Figure 9: An example of effective brand segmentation to cater to consumers’ differing perceptions and ability to consume ‘cool’ 58 Figure 10: Coolness through product sampling - Innocent Drinks, Red Bull, Ginsters 62 Figure 11: Coolness through packaging examples - Gola, Sprite, Method Home care 64 Figure 12: Brand bonding, by age, 2003 70 Figure 13: Coolness through the urban scene - Red Stripe, Planet Ice Cream, MAC cosmetics 74 Figure 14: The four components of fun necessary for cool products targeted towards 8-14 year old consumers 79 AbstractIntroductionOver 65% of consumers consider it important to feel "cool" about their lifestyle, making it vital for marketers to know how and when to add cool to their brands. This report gives essential insight into what really constitutes "cool": how it applies to different age groups, what product attributes are required and what marketing messages and tactics are most effective. Scope Consumer groups aspiring to similar cool lifestyles by age across the US, France, Germany, Italy, Netherlands, Spain, Sweden, UK, between 1997 & 2007 Defines what constitutes coolness in food, drinks and personal care and how it can be credibly achieved Quantification of the number of "Opinion Formers" who set the trends in your category and advice on how to target them Unique insight from US and pan-European consumers as well as results of our US and European marketers opinion survey Report Highlights Coolness applies to many more consumers than just "youths". Coolness is not just about fads, and marketers are potentially missing out on offering "cool" to the vast number of older, often more affluent consumers. The importance of coolness varies by product category, but marketers must not become "cool obsessed". While over a quarter of Americans and Europeans report using consumer packaged goods in order to achieve "cool", cool alone cannot sustain a brand. Successful incorporation of cool with other product attributes is key. While cool is often associated with exclusivity, it is possible to offer "mainstream" cool. Brands seeking to establish and maintain such a position will need clearly segmented brand strategies. This report shows how it can be achieved. Reasons to Purchase Marketing strongly influences over 70% of consumers' perception of cool - gain insight into how to engineer cool and which segments to target Young consumers are spending more on purchasing cool products - find out what they seek and how to make your products appeal to them Coolness is often deemed indefinable - clarify an elusive concept and better understand how to integrate elements of coolness into your brand Get Full Details About This Report >> |
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