Consumers want companies to pursue social purposes and marketers say their firms are responding to improve their bottom line. That’s according to the American Marketing Association New York’s (AMA NY) Future of Marketing survey.
Based on data gathered from online polls of 506 consumers and 411 marketers around the US in August 2021, the report highlights the importance of corporate purpose in influencing purchase intentions and reveals consumer and marketer attitudes towards post-COVID marketing.
Consumers say the top purposes they want companies to pursue are fair employment, anti-racism, corporate citizenship and environmentalism, and that they’d be willing to pay more for a product based on a company’s actions on purpose.
“These findings underline what marketers should have learned after a couple of years of social turbulence: your customers are interested in what your firm is doing about issues they care about, not just what you’re selling – and you’d better respond to them,” said AMA NY president Jason Revzon.
- The most important purpose that companies should be promoting is how to be a good employer with fair pay and labor practices.
- After fair employment, consumers believe companies should promote racial equity, corporate citizenship in their communities and environmental sustainability.
- Gen Z consumers rank racial and environmental justice as corporate priorities higher than older generations do.
- Minorities believe racial equity is the most important social goal companies should act on.
- Companies are listening to consumers’ needs and responding to those that are promoted most heavily.
- Males, baby boomers and upper-income consumers stress corporate action for democracy.
- Females, younger indiv
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