There are many changes brewing in South Africa, some big and some small. The fourth FutureFact conference, to be held on Thursday, 24 July 2008, in Johannesburg, focuses on the potential tipping points for these changes - relevant to future scenarios for business and the country.
The fourth FutureFact Conference is titled “South Africa: The 29th Day - Have we reached our Tipping Point?” The concept is based on the Malcolm Gladwell book, The Tipping Point: The number of lilies doubles every day, and it takes thirty days to fill the pond. On the 29th day, it is only half full. A few days before that it will seem nearly empty. In the last days, it tips. Clearly change was a long time in the making, but only became evident near the 30th day.
The FutureFact survey has been monitoring the attitudes, values and beliefs of South Africans for 10 years now, and has identified a range of significant societal changes that impact on people's businesses, organisations, Government and our own lives. The sample was around 2500 adults aged 16+, from a universe of all adults throughout the country other than deep rural areas (communities of less than 500 people). African Response conducted the computer-assisted personal interviews. Here are some findings.
Attitude towards brands
- It is important for marketers to understand South Africans' attitudes to brands and brand loyalty.
- FutureFact gives insight into the importance of brands in people's lives.
- Buying brands is not simply about functionality but also about identity, self-esteem and aspirations.
- Attitudes will change depending on many different variables. When we look at people's ages we can see these variations quite clearly.
“I am more likely to buy brands that I see or hear advertised”
- 6 in 10 South Africans are influenced by advertising and are more likely to purchase brands they see or hear advertised.
- This is even more prominent when looking at the 16-24 year olds.
“It is important to buy the right brands to create the right impression”
- Brands are not simply brands, they create an impression of who the person is and of how the person sees themselves.
- This is true for all ages with the exception of those in the 50+ age group.
“If a brand does not seem to speak to me, then I will not use it - even if the product or service meets my needs”
- There are considerable implications for brands if they talk down or miss the context of their target market.
- Many people will dismiss a brand's value to them if they perceive that they are not understood in the messaging.
- This is true for all age groups.
“I am brand loyal and stick to well-known brands and shops that I know and trust”
- The value of brand loyalty is vital. Once someone has bought into a brand they are likely to stick with it.
- This is particularly true for the 16-24 age group which is very brand conscious.
- While a brand talks to them and is in vogue, the youth will stick to them.
- The importance lies in maintaining relevance to the target market.
“Brands are important to reflect who I am as a person”
- The aspirations of people must be taken into account.
- Brands say something about who a person is and the purchase decision is based on “what does this say about me”.
- This is particularly important to young people.
“I like proving that I am different from ordinary people by the clothes I wear and things I do”
- This is an interesting dynamic, while the youth want to conform to their peers they also want to seem different.
- Half of those in the 16-24 age group, and almost half in the 25-34 age group feel they want to be different.
- The challenge to marketers is to understand what makes one feel less ordinary or different without actually being different.
“I will sometimes buy expensive designer clothes for example because it reflects who I want to be”
- The aspirations of people shout not be underestimated.
- This clearly indicates that people, particularly young people, are prepared to spend their hard earned money to buy products that will reflect their own self-image and aspirations.
- Understanding this dynamic underlines the fact that marketers of certain upper end products, need not only speak to an affluent target market but should also be speaking to a market with aspirations.
The conference will focus on the significant trends both through presentations from the FutureFact survey itself and from a range of expert speakers. All this is essential for anyone who wants to try to make sense of the social and political dynamics of the country either for themselves or for their organisations' marketing, strategy and scenario planning for the future.
Details
When: 24 July 2008
Where: The Forum, Didata Campus, Bryanston, Johannesburg.
Time: 8.30am - 4.15pm.
Registration: www.futurefact.co.za
