Today customers follow brands and companies that are purpose-driven. Gone are the times when traditional value drivers- such as product quality, packaging or distribution played a major role in the brand’s success in the market.
People need brands that are more sustainable –in other words, brands that have a good purpose.
Amul has a clear purpose-led mission ever since its birth and has been committed to the betterment of dairy farmers and cooperatives.
Today consumers are not content with just the functional features of the product or service they buy; they want to be an integral part of a large, positive, uplifting mission, through the brands that they use.
Consumers use brands that connect with them at an emotional level. Example- the new initiative by brand ‘Hamam’ which states #GoSafeOutsite urging women to become self-reliant when it comes to their safety.
A large majority of consumers also have a strong preference for brands that help them conserve resources in their own personal lives.
Example- Tide Coldwater Detergent in the USA was specifically formulated to wash clothes in cold water, thus helping consumers reduce their energy consumption.
Sometimes a brand’s mission is aligned closely with a cause that is very important to the consumer and this urges them to go for that particular brand. Example- Nike, which is dedicated to the sustainable purpose of fitness.
Also, consumers prefer to use brands that help reduce ecological damage to the environment.
Thus brands with a purpose have won the heart of many consumers and have grown faster than the rest of the company portfolio becoming the market leaders today.
