Challenges

Make Life Time Value a Culture

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My name is Richard and I live in Africa's richest and most influential city, Lagos. Like most prominent cities around the presence of abundance often results in high levels of consumption and consequently, waste. 

I believe we can promote access over ownership by influencing how consumers interact with our products. From the marketing phase to post-purchase. 

I genuinely believe that most people see the life cycle of products they use as only three stages - purchase, use, dispose - so after purchase, whatever is not in use is immediately disposed. Companies can used marketing tools to influence consumers on the many different things that can happen at all three stages.

Before purchase, consumers may consider share, exchange or letting options that allows them to own only what they need to own while using other options to experience the rest.

During use, companies can also communicate a culture of proper handling and maintenance to consumers so that they can maximize the product and still share it with others who many want  access to experience the product with purchasing it.

Managing disposal starts from the point of purchase. Helping users buy only what they need may not fit into conventional business intuition but it creates a better market reality for everyone ultimately.

Selling today's users the idea of recycling, reuse or return will require building trust and loyalty between brand and consumer and making the process engaging with rewards.

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