Established brands show authenticity by using customer feedback
Implications - Though smaller companies have the freedom to create products based in consumer feedback, more established brands have more red tape, and therefore must apply feedback in smaller, incremental ways. This is being implemented through small tweaks to existing products that explicitly reference real product feedback. Not only does this show authenticity, but satisfies the consumer desire to contribute to the products they consume.
Workshop Question - Brainstorm 5 new ways to leverage customer feedback.
Trend Themes
1. Customer Feedback Integration - Established brands use customer feedback in smaller, incremental ways by applying it to existing products, creating an opportunity for incremental innovations.
2. Personalization - Loyalty apps provide personalized experiences through the use of customer-specific data, creating chances for customization innovations.
3. Consumer Input Utilization - Consumer input influences product development and flavors, providing opportunities for brands to tailor their products to changing preferences.
Industry Implications
1. Food and Beverage - The food and beverage industry can use these trends to develop new products tailored to their customer's changing preferences.
2. Technology - The incorporation of customer data in loyalty apps provides opportunities to develop new technologies to improve user experiences.
3. Marketing - Brands can use customer feedback and input to develop their marketing strategies and promotions to better engage their audience.
