I don’t know about you, but UL’s global study The Product Mindset is new to me. Now in its third year, this study provides insights about the ways manufacturers & consumers think and feel about the products they make, sell, purchase and use. Respondents of the study come from the United States, Germany, Brazil, India and China – insights that reflect the reality of our more complex global marketplace.
The 2013 study found a number of gaps in priorities between manufacturers and consumers in what is expected or desired and what is being delivered. Highlighting these gaps helps pinpoint opportunities for manufacturers to better address consumer concerns. Here are some examples of the Top 10 gaps identified in the study.
- Quality: 95% of manufacturers believe product quality is important but 51% of consumers believe that manufacturers use the lowest cost materials regardless of quality
- Product Safety: 84% of manufacturers believe that consumer confidence in product safety is increasing but 58% of consumers believe that manufacturers value sales over product safety
- Health Impact
- Environmental Product Impact
- Environmental Manufacturing: 90% of manufacturers agree that the environment is becoming more important but 40% of consumers think manufacturers are not doing enough in terms of environmentally friendly manufacturing procedures or products
- Supply Chain Transparency
- Ethical Treatment of Workers
- Regulation: 86% of manufacturers believe that the regulations they deal with are already stringent but 71% of consumers feel that manufacturers should be more stringently regulated
While fundamentals such as quality, safety & innovation remain the most important factors driving behavior for manufacturers and consumers, a number of priorities such as transparency, health impact and outsourcing/country of origin are on the rise.
So what does Remke do with this study? What do you do with these insights? Perhaps the best place to start is reading the complete study on the UL website and identifying which of the 10 gaps are most closely aligned with your business – with our business. And from there………you decide.
Do you think the Product Mindset Study will be useful to your company? Let us know your thoughts. Please LIKE and SHARE this blog and as always – thank you for subscribing to EVERYTHING’S CONNECTED.