Several businesses mine large datasets to find answers to their consumers’ behavior. However, the data can only explain previous behavior. The economic climate, customers’ underlying attitudes, and motives are continually evolving. The past data is not necessarily the best predictor of the future trend.
During a purchase decision, 95% of our mental reasoning happens in our subconscious thoughts. We buy products and services based on our underlying attitudes and motives. Brands that provide experiences tailored to their consumers’ preferences are more likely to succeed.
The Value Index, developed by Appnovation, is a methodology that provides a comprehensive insight into customer motives and attitudes. The study focuses on three sets of human-centered values: Transcendental values are often associated with feelings of optimism or inspiration. Customers typically become ardent fans when brands match transcendent values. Emotional values are driven by people’s wants and frequently involve a desire to reduce anxiety or connect with others. Consumers’ more tangible desires, such as quality or saving time, are represented by Functional values. Though several brands focus on such tangible desires, functional values aren’t necessarily the reason consumers buy.
A brand should study consumer motives and attitudes to see if any patterns can help them develop effective strategies and solutions. It was done nicely by Next Meats and DSM. For consumers in APAC, sustainability is viewed as an important priority. Consumers in Japan prefer meat substitutes. Next Meats, a Tokyo-based food-tech startup, grew quickly and now offers a variety of meat substitutes. Consumers in Australia and New Zealand are hesitant to give up meat. DSM, a global leader in animal nutrition, developed the feed additive Bovaer for Australian and New Zealand markets. Bovaer safely reduces the formation of methane in cows, which is the principal source of carbon emissions from animal agriculture. These nations have committed consumers who practice sustainability, but their methods vary greatly, as do their attitudes and motives.