Solutions to increase the consumer interest and valuation for sustainable products in markets

Project: Research project

Project Details

Description

Solutions to increase the consumer interest and valuation for sustainable products in markets Solutions to increase the consumer interest and valuation for sustainable products in markets RESEARCH QUESTIONS AND OBJECTIVES As the IPCC Report (2007, 2) states warming of the climate system is unequivocal. For example 40% of all climate relevant emissions in Germany are caused by private consumption (UBA 2007). However, in order to make more sustainable products a success in the market 1) consumers have to be able to identify, i.e. perceive, such ecological sustainable products at the point of sale, e.g. through labeling, 2) they need to develop a preference for more sustainable products and 3) they have to be willing to pay a premium for these products. Against this background, the aim of this project is to Part I. Develop practical tools and concepts that will enhance Henkel sustainability products pricing power and market share. Part II. Understand younger generation future consumers and develop strategy and action plan for effective interaction. More specifically: Part I: Analyze Henkel U-Ws sustainability product portfolio and current practices from outside, identify issues and gaps, and develop new concepts: 1. Identify consumer interests and their needs to own Henkel products; how do consumers perceive Henkel sustainable products? 2. Identify consumer evaluation of the target products and values for product attributes such as design, labeling, claims. 3. Analyze consumer interaction perspectives, e.g., consumer shopping behavior, in-use habits and practices that may enhance or reduce consumers interests. 4. Identify issues where Henkel should be able to address in short to mid-term, and provide Quick Win solutions; also attack those big hurdles with Game Change concepts that Henkel and its partners should work in long-term. 2 Part II. Understand younger generation future consumers and develop strategy and action plan for effective interaction 1. Evaluate Henkels communication channels and platforms regarding current and future consumers of Henkel products, including how the communication of product on shelves at retail stores, through websites, and internet-based social media platforms (e.g., Henkel on the Facebook) is perceived by consumers. 2. Analyze the younger generations attitudes, values, habits and choices toward Henkel sustainable products. 3. Identify their attitudes, values, habits and preferences toward mass communication / interactive channels and platforms, e.g., smart phones and other mobile devices, internet-based social media and networks. 4. Measure the willingness to pay for satisfactory sustainable products; predict opportunity areas where Henkel should investigate for business growth in the years to come. To reach these goals we will analyze consumer choices regarding Henkel sustainable product choices based on consumer surveys and experiments.
StatusFinished
Effective start/end date12/15/126/30/13

Funding

  • INDUSTRY: Domestic Company: $25,000.00

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