Tuesday January 12, 2010
A new research from Harvard Business School blows the doors wide open on what is happening in Consumerville. Interestingly enough it is not the green movement that is at the forefront. It is not the economically driven seller like Wal-Mart that is at the forefront. What is at the forefront is sending a shock wave thru consumerville. The dramatic shift in buying trends is shifting away from price and into quality. Not just any quality, but trustworthy quality. Consumers are now seeking advicefrom other consumers and are not stopping there but continuing to search online archives with microscopic fervor. The Harvard Business School report calls it “medieval village of consumption*” where purchasers work together to understand and discern “which companies and brands are worthy of our loyalty.*” The consumer is now consumed with finding established andtrustworthy brands. This means the pocket book is willing to open for
How will this bleed over into how purchasers view their homes? When the market turned the public massed at the door of the big box, Wal-Mart style builders court touting the price per square foot would reign supreme. Focusing on price per square foot tells you a lot about the buildertrustworthy view of their brand and construction style, and equally speaks openly about quality. Price per square foottells you how many corners a builder is cutting in structural quality while adding and dressing up in hollow glitter to get your dollars. Price per square foot philosophy did gain some traction and many sorry consumers now regret their short sighted knee jerk reaction.
Consumers who are jilted are speaking out in new ways to spread the word about their experiences. Will the trustworthy brand reality bleed over into real estate? Certainly!! Builders sharpen your skills; sharpen your quality consumers are coming and they know all about you!!! They are voting daily with how they spend their money. The “Medieval Village of Consumption is establishing perceptual benchmarks and you better meet them in their perceptual circle of influence. The “best racehorse *will be selected around the dinner table without the input of colorful marketing brochures and careful add placement. The input influencing the buyer will be trustworthy track record that includes more than clever closing statements and clean looking sales people. What are you looking for in a trustworthy brand? I would love to hear your take and how you determine the value of the products you are purchasing.
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