H&M Archives - My Story Lounge https://mystorylounge.com/tag/hm/ Every destination begins with a journey Mon, 18 Oct 2021 15:56:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://mystorylounge.com/wp-content/uploads/2021/05/cropped-MSL_FINAL_300X300_V3-32x32.png H&M Archives - My Story Lounge https://mystorylounge.com/tag/hm/ 32 32 194861459 What Consumers Want – Michael R. Solomon https://mystorylounge.com/what-consumers-want-michael-r-solomon/ https://mystorylounge.com/what-consumers-want-michael-r-solomon/#respond Tue, 28 Sep 2021 14:31:00 +0000 https://mystorylounge.com/?p=1233 “We don’t buy products because of what they do. We buy them because of what they mean.” A sought-after figure within the corporate world, Michael R. Solomon is a thought leader, keynote speaker and renowned author on topics concerning consumer behavior, fashion psychology, branding, retailing, advertising and marketing. In addition, as Professor of Marketing at […]

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“We don’t buy products because of what they do. We buy them because of what they mean.”

A sought-after figure within the corporate world, Michael R. Solomon is a thought leader, keynote speaker and renowned author on topics concerning consumer behavior, fashion psychology, branding, retailing, advertising and marketing.

In addition, as Professor of Marketing at Saint Joseph’s University in Philadelphia, U.S.A., Solomon has written over 30 books on these topics above. He is a contributor on Forbes.com, and is frequently quoted in major news outlets such as The New York Times, USA Today, Adweek, Time and BBC News.

Combining cutting-edge academic theory with actionable real-world strategies, he helps brands to better anticipate the needs of their target audiences and effectively communicate messages. Even marketing guru Philip Kotler, who is famously known as the “Father of Marketing”, sums up his expertise this way, “Solomon has the mind of a scientist and the writing flair of a journalist.”

His work with corporations include the likes of Calvin Klein, eBay, Campbell’s, United Airlines, Levi Strauss, Intel, Dupont, BMW, Under Armour, Timberland, Wrangler, Lululemon, and H&M, among other major global brands.

Advertising and marketing is all around us – from our perception of brand names to our shopping choices and more importantly, the influence it has on our behaviours as consumers. We spoke to the man who only understands this world too well.

EARLY LIFE

Tell us more about your family background and share with us on what it was like growing up.

I had a disgustingly normal childhood. I was an only child, and I grew up in the Maryland suburbs of Washington, D.C. My Dad was a Professor and Dean at The George Washington University for many years. My parents were originally from other parts of the U.S.A., so we had relatively few physical visits with family. However we had a very close network of friends and neighbors that filled in quite nicely.

How did your upbringing shape the person you are today?

We were very close-knit and of course since we are all products of our upbringing, I can still see my parents in my values and personality traits. They also made sure I had a reasonable variety of experiences such as visiting other places, going to restaurants and museums, etc.

And, because I was basically a “nerd” and not very athletic, I learned early on to develop a cutting wit that neutralized potential bullies (I still need to watch that today) and helped me to make friends during the adolescent quest for popularity.

How would you sum up your childhood?

I owe my late parents many things, but one of the most important is that I’m grateful to them for giving me a happy childhood. My only regret is probably growing up in suburbia, where kids were relatively sheltered from many of the tumultuous events that were changing our society in the 1960s and 1970s.

Michael in High school (1973)

JOURNEY

How and why did you decide to venture into marketing and advertising?

I blundered into a career as a marketing academic. I did my Ph.D. dissertation on the psychology of fashion. When it came time to apply for Psychology faculty positions, the market was dreadful; every open position was overflowed with applicants. One of my professors suggested that I considered Marketing faculty positions. At that time, I literally didn’t know that Marketing was a discipline; I thought my professor meant going to the store!

My professor connected me with a Marketing professor at the U. of Florida, who in turn recommended me to his colleagues at New York University. Sure enough, they invited me for an interview, and they offered me a job by the end of the day. The rest is history! I have never regretted my move from Psychology to Marketing because my adopted field was very tolerant of some of the “crazy” topics some of my colleagues and I were doing research on at that time.

Why did you choose to become a speaker and author?

I was one of those nerdy kids in college who actually enjoyed doing intense term papers (and in those days we didn’t have Wikipedia).

The “drama” of pulling an all-nighter to write (and then type on a typewriter) a research paper really appealed to me. It’s kind of like hitting your head against the wall: it feels so good when you stop! But to this day I still enjoy the writing process, and the tools we have available today are game-changers.

I developed a love of speaking from giving countless lectures to students. I believe that it’s in my interest to have fun while imparting new ideas (so I don’t bore myself as well as my audience), and later in my career I discovered that corporate groups also wanted presentations that were both engaging and informative.

What were the challenges you faced and hard decisions you had to make along the way?

As I noted, when I started in academia there were no jobs available in my discipline. So, it was quite challenging to reposition myself and join a business school faculty. In the first few years, I was literally about ½ chapter ahead of my MBA students because as a liberal arts scholar I had never taken any business courses. I still haven’t (a little secret I keep from my students).

As a young man (sole breadwinner) with a growing family, I had to make hard decisions about how much time I could devote to my wife and kids. I worked constantly as a junior faculty member, and this exacted a toll. Although I wish I had been able to allocate more to my family, I feel I made a “noble sacrifice” to be sure everyone benefited from my hard work – at least in terms of day-to-day life, educational opportunities, etc.

Today, I don’t work quite as hard, and I’ve learned that I can get about as much done in ½ day of focused work as I used to do in a full day (and often night).


ACHIEVEMENTS

Which achievements are you most proud of and why?

I have been fortunate to have had a successful career, both within academia and as an industry consultant. I’m proud that I’ve been able to pursue issues that combine the characteristics of both. And – I’m very grateful to the colleagues and students I’ve had the honor of working with over the years. I’ve also learned a lot about the publishing world, and I’m very proud of all the textbooks and trade books I’ve written.

When I wrote the first edition of ‘Consumer Behavior’ textbook (now in its 13th edition), it wasn’t at all clear that any faculty members would assign it to their students.

There were several well-entrenched titles, and the multidisciplinary perspective I brought was still not widely accepted among Marketing faculty. But the book captured the zeitgeist of the newer forms of research that “the Young Turks” in the field were doing at the time (I was one of them – that was a long time ago!).

Today, this “new paradigm of consumer behavior” is actually pretty mainstream – but I’d like to think that at least part of the reason for that is the prolonged success of this book and the many thousands of students who learned from it, and then applied what they learned in marketing settings.

What do you think are the key ingredients to your success?

1) For better or worse, I am extremely well-organized. I maintain a very elaborate organizational structure for myself that helps me to be productive.

2) I have always worked well with others, so I’ve been able to publish many articles with co-authors. In particular, I have always prioritized publishing with my students – and putting them as first author when appropriate!

3) Not taking no for an answer. I am a consummate “nag” and I usually persevere when problems arise with other people because they don’t turn around their work on time.

What lies ahead in terms of your goals and ambitions?

I believe that the ideas I present in my latest book: The New Chameleons: How to Connect with Consumers Who Defy Categorization, are really valuable to marketers, most of whom don’t appreciate how much consumer behavior is changing even as I write this. I’m looking forward to the opportunity to do more keynotes around the world to share these ideas with audiences.

I’m also working on an online course that I’m very excited about; the tentative title is ENGAGE! How to Turn Your (Bored) Customers into Brand Fanatics. I believe that connecting with consumers in a very chaotic marketing environment is the biggest challenge marketers face today. I’m really keen to show learners that there are still ways to galvanize customers and help them to appreciate the value of a brand to improve their lives.

PERSONAL (LIFE)

What is your life motto (Or core values) if any?

“It’s better to light a single candle than to curse the darkness.”

To you, what are the most important things in life?

Family and friends – including my wonderful wife, kids and grandkids! Although I value professional success, it’s how you act in your private life that really matters. To paraphrase a popular expression: “No one ever lies on their deathbed and wishes that they spent more time at the office.”

What’s worth mentioning on your life’s bucket list that you have not done?

Riding every big roller coaster in the world.

Why do you do what you do? (What drives you everyday)

I’m very fortunate because I don’t have a “boss” in the conventional sense who tells me what to do (the joys of being a tenured Professor). So, I continue to write and speak because I genuinely enjoy it. So long as I feel my students continue to get value out of what I say, I’ll keep doing it. As the saying goes, “If you love what you do, you’ll never work a day in your life.”

Who are the role models and influences in your life?

My Dad was Role Model #1; among other things, he taught me about the joys of doing research and learning. I’ve also had several professional influences and mentors that include a handful of very successful academics who are highly regarded in both academic and the business world.

I’m also grateful to an executive, who worked for many years in the marketing research industry, and who then taught the subject as an adjunct professor. He showed me how the “real” research business works.

What are some things that many people don’t know about you?

I don’t take myself too seriously, and I love to make fun of people who do. Just don’t label yourself as “thought leader” or “guru” – if you have to say you’re one, you’re probably not!

Starting at age 14, I worked for many years as a tuxedo salesman in various formal wear stores.

What are you most passionate about in life and why?

Again, my family including my lovely wife Gail. Also, I love to travel and try exotic foods (except anything from the ocean).

I love to read sci-fi and to see how different authors envision the ways our society will evolve.

VIEWPOINTS

In your personal opinion, how do you think technology is changing consumer behaviours around the world in general and will continue to change it?

As I discuss at length in ‘The New Chameleons’, one of the most important changes is the dissolution of the boundary between humans and machines. As we continue to merge with technology, our very self-identities will mutate. This movement includes the increasing practice of implanting tech into our bodies (examples: microchips, contact lenses that monitor vital signs, prosthetics and so on) as well as the growth of the “Metaverse”, where our digital and physical identities will continue to come together.

You have written countless books on marketing. What are the top five things marketers have to do to adapt to changing consumer preferences and new innovative technologies?

  1. Listen to your customers. They are your best source for new product ideas.
  2. Understand societal changes, for example the current movement toward greater diversity and inclusion in marketing campaigns.
    Don’t rest on your laurels – just because you’ve devised a new solution to a problem doesn’t mean that others won’t come along with a better one.
  3. Understand that the distinction between offline and online marketing strategies is obsolete in an age where your customers are omnichannel 24/7. Prepare for the Metaverse!
  4. Recognize the power of external influences on consumer decision making – including the opinions of peers, influencers, etc. and appreciate that especially for many younger consumers these decisions are often made collectively by a “hive mind” that’s constantly churning on social media and other tech platforms.

You are one of the founders in the field of fashion psychology. Could you tell us more about the space and the impact it has on society as a whole?

The study of fashion psychology is quite a new focus (although a few scholars started to probe this area as far back as the late 1800s). One of the events that was a catalyst to grow this field was a large conference I chaired in 1985. The resulting book (The Psychology of Fashion) was one of the first to bring together a range of social scientists and fashion industry executives to look at how fashion processes influence consumer behavior.

It’s also important to remember that the study of “fashion” in this context is not confined to tracking hemlines each season – the same basic processes that determine whether women will be wearing long or short hemlines also apply to our understanding of how scientific theories, political perspectives, consumer packaged goods, etc. originate and diffuse through a market.

Especially post-pandemic, the issues this field deals with are very important. For example, we’re seeing a huge resurgence of interest in apparel sustainability; the solutions we come up with to reduce the immense waste the industry creates will be an integral component of efforts to combat climate change, pollution, economic inequality, etc. If that’s going to happen, consumers have to make it happen, It’s a great time to study how their values are changing.

Micheal and his family at the Atlantis resort (2019)

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