In the modern era, brands have become much more than just visual signs or names. They are seen as representatives of values, ideologies and even a business card for society. The value that we, the consumers, are willing to assign to products bearing a particular brand often exceeds the actual cost of the product itself. It proves that we pay not only for the materials or the production process, but also for the emotional and symbolic value that the brand gives us.
If we delve deeper into Maslow's hierarchy of needs of needs, we will discover that alongside the basic physiological needs, such as food and shelter, there are mental and emotional needs that brands try to meet. Brands provide us with a sense of security, belonging to a certain social group and even give us a means of self-expression. In some cases, the fear of identifying with groups perceived as less valued can motivate people to prefer products from well-known brands over cheaper alternatives, reinforcing the tendency to pay more for the brand.
To maintain relevance:
In a world where consumer choices often reflect more than just physiological or economic needs, but also social and emotional needs, the question of brand strength and why we are willing to pay a brand premium becomes central. Building a winning brand is not an easy task. It requires a deep understanding of human needs and desires, utilizing research and data to determine the right strategy.
However, despite all the planning and analysis, it often seems that the missing ingredient is luck - how an anonymous sandwich seller can become an international brand overnight, or how a small project spreads and becomes a global phenomenon. However, the real challenge is not only in becoming a well-known brand, but in being able to maintain the relevance and positivity of the brand over time, and not degenerate into a passing trend or become a brand with a negative reputation.
In the end, the strength of the brand is measured not only in sales or popularity, but in its ability to create a deep and meaningful relationship with consumers, meet their emotional and social needs, and leave an unforgettable mark on society.
In an age where the boundaries between reality and imagination are blurred by the digital world, reality shows and social networks play a crucial role in our lives. They create a virtual reality that dominates the mind, burdening us with psychological effects that we are not always able to identify or analyze. A result of this influence is a tendency to make irrational consumer decisions, such as fierce bargaining for every shekel on the one hand, compared to an excessive investment of time and money in buying a product at an unreasonable price on the other.
The consumer paradox:
Our consumer behavior is sometimes under the influence of striking contrasts: on the one hand, we enter into an economical pursuit of sales to buy tomatoes, ready to invest time and effort to save a few shekels, while dealing with traffic jams and finding parking. An experience that is often accompanied by a feeling of anger and frustration.
On the other hand, we tend to react in a completely different way when it comes to new trends or experiences that have become popular through social networks. Here, we are willing to travel hours to a secluded place, stand in long lines and pay an exorbitant price for something like a coffee and a pastry, without grumbling or anger.
This paradox reflects the dichotomy between the search for savings and succumbing to advertisements and trends. The issue is not only about the gap between our emotional response to different types of expenses, but also about how we weigh value against experience. While the search for savings is driven mainly by economic considerations, the willingness to pay high sums for certain experiences is significantly influenced by the desire to belong, experience and be exposed on social networks.
The question that arises is how we can find a healthier balance between these two poles, and make our decisions more informed, while maintaining quality of life and a sense of satisfaction from the experiences we choose to invest in.
At the same time, the cost of living in Israel continues to pose a serious challenge to its residents. Despite the many promises and headlines, it seems that no significant actions or economic reforms have yet been taken that would change the situation for the better. This reality is reminiscent of a crime movie, where every upgrade in locks and security mechanisms proves worthless to the sophisticated thief who manages to overcome every innovation. Similarly, it seems that the market and the factors operating in it are always two or three steps ahead of the solutions and ideas that the "brains" in the government offices are trying to implement, which leaves the average consumer in a state of uncertainty and financial difficulty.
The described reality emphasizes the need for the development and implementation of an innovative and efficient economic policy, one that can withstand the developing challenges and provide real answers to the needs of the population. This is the only way we can strive for a society where the distinction between reality and imagined images will be clearer, and consumer decisions will be made based on informed judgment and not just according to external influences.
Infected with an epidemic:
In January 2022, the public woke up to a new reality and receiving new practical tools for saving on regular grocery shopping. The Retail Research Institute and Maariv presented in an investigation what is hidden behind the well-known brands and how it is possible to switch to alternative brands. The investigation managed to provoke a discussion regarding the economic potential inherent in the choice of these products. We revealed how these brands, often produced on the same production line as the well-known brands, offer significant added value at considerable price differences.
However, despite the increasing vigilance of consumers, an alarming phenomenon has been observed in which alternative manufacturers and importers have become rarer on the supermarket shelves or have started raising prices, catching the epidemic of well-known brands.
In preparation for Passover and the increased shopping days, households are in a race against time and expenses that do not at all put the big shopping days of "Black Friday" to shame. Not only is Passover a matter of the traditional Seder night, but it is also a time of a series of family and social events that include grilling, hospitality, camping and trips - all of which require a lot of preparation and precise planning of the culinary needs.
Is there a way to manage expenses more effectively, especially this time of year? The answer is definitely positive. One of the main strategies is planning the shopping in advance. Keeping an orderly shopping list, comparing prices between different chains and focusing on attractive promotions can bring about a significant change in the total amount of expenses. It is also important to consider the use of alternative products that are not always at the forefront, but offer good value for money.
Careful planning in advance, searching for profitable offers and preferring alternative products can help us manage expenses in a balanced and planned manner, and experience Passover without unnecessary financial pressure.
If we look at the supermarket shelves we will not always find the alternative solutions in the most desirable and prominent locations and there is a simple economic reason for this: they bring less money into the cash register. The marketing chains develop alternative solutions to the well-known brands. The attempts to match the Israeli taste in appearance, taste, smell and price are not easy - there are products where brand loyalty is high and sometimes difficult to crack, but there are thousands of products that have proven to be an adequate solution in return.
We put together a shopping basket for Passover with the 55 items that influence household shopping lists, but the significant detail is that a third of the products in the basket are products that we will not consume in the next shopping trips after the holiday and most likely we will only encounter them next Passover.