Jeff Hunter, director of consumer insights at General Mills, looks at what we have learned about customer preferences and future business strategy.
We are moving towards a more stable economy, but there are still concerns about the impact of high unemployment levels and the availability of cash to invest in business growth. Jeff presents eight observations:
- Maslow’s Hierarchy of Needs is still relevant
- Traditional values still have value
- We need to source ideas broadly and adapt quickly
- Always stay very close to the consumer/customer
- Be creatively efficient
- Understand the value proposition and its consequence for the business model
- Religiously assess what works and does not.