FOCUS - READER'S DIGEST SUPERBRANDS SEMINAR: Ignore trends at your peril

<p>The need to stay abreast of new trends in the marketplace was </p><p>underlined by Mr Ajay Bhalla, vice-president of marketing at </p><p>Mastercard. </p><p><BR><BR> </p><p>He cited the results of a series of studies, which underlined the </p><p>decline in the importance of materialism around the world. </p><p><BR><BR> </p><p>"In the 1980s, people were very materialistic. But that began to change </p><p>in the 1990s and today we seem to have come full circle. The current </p><p>consumer attitude is that people want control of their life, be </p><p>satisfied with their life and have good family values," Mr Bhalla </p><p>said. </p><p><BR><BR> </p><p>Because of this change, Mastercard launched its "Priceless" campaign in </p><p>the West a few years ago.The same campaign was customised for </p><p>Asia-Pacific and was only recently rolled out in this region. </p><p><BR><BR> </p><p>Mr Bhalla said that while its competitors were still positioning </p><p>themselves as promoters of "rich lifestyles", Mastercard's campaign </p><p>emphasised that its cardholders "lead rich lives" in spiritual and </p><p>family terms. </p><p><BR><BR> </p><p>The campaign has had a successful impact in the US, where awareness of </p><p>the brand has increased from 23 to 29 per cent. </p><p><BR><BR> </p>