Advertisers’ ideas about consumer priorities are "flawed", study finds

New Ideas in MarketingEssential news for marketers, summarised by YouGov
June 24, 2020, 1:21 PM UTC

Reach Solutions' "The Aspiration Window" report focuses on UK consumers' aspirations and advertisers' belief about that.

The study found 68% of advertisers believe consumers want to own expensive possessions, while only 11% of consumers aspire that. Similarly, the ad industry thinks the majority of consumers desire fame and money, while only a few UK adults aim for that in reality.

Both the industry and its target audience rated social purpose as unimportant while making purchase decisions.  But, consumers rated, factors like brand values, even less important than the industry's perceptions. Instead, consumers place greater importance on factors like value for money, reliability, quality and customer service.

Reach Solution's Andrew Tenzer says the "elitist composition" of the industry professional makes their idea about consumer aspiration flawed. 70% of industry professionals belong to the top two socio-economic groups, which is only 29% of the entire population.

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