Consumers are paying attention. From Goodwill’s obnoxiously low pay for disabled workers to the latest smoke-and-mirrors shuffling from quantitative easing, consumers are watching brands and businesses far more closely than in recent years for unethical policies and practices. In response, businesses are becoming much more proactive in reducing negative impacts to their brand, because they realize the effects that dissatisfied clients can have in a social-media-friendly world.
A recent worldwide survey of 30,000 consumers by Accenture & Havas Media found that 72% of respondents felt businesses were failing to take care of the environment and the world’s people. This makes it clear that society as a whole feels that businesses have a responsibility to care for the world and the people and businesses they employ, whether on Main Street USA or at a Chinese factory. But how are pharmaceutical and healthcare businesses going about making these changes to appease their customers?
Sacrifice. Specifically the business’ sacrifice, so the consumer can have a warm, fuzzy feeling about their consumerism. Is it fair? Probably not. But we all know life isn’t fair.
Consumers want to know if executives will give up their private jets and fly commercial to help reduce emissions. They want to know if the company giving a director a high bonus for exceptional performance is paying a fair wage to their factory workers in India. As a business in the pharma, biotech, healthcare or whatever you industry, how does this new attitude affect your business, marketing, public relations and bottom line?
Publicly reporting your good practices helps shine a good light on your business. As responsible consumerism takes hold, it’s even starting to affect B2B transactions in the healthcare industry.
If you had known this prior to reading this, would you have seen the impact it could have on your business and how to avoid the problem, or would you have thought of it as something that can only cause problems in the consumer products industry? At Access Market Intelligence, it’s our job to stay alert to all the factors that can affect your business, not just the healthcare industry ones. Contact us today on how our services can help keep your healthcare business effective today and into the future.