Chapter 12 Consumer Diversity. Learning Objectives~ Ch. 12 To understand: 1.The role of consumers...
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Transcript of Chapter 12 Consumer Diversity. Learning Objectives~ Ch. 12 To understand: 1.The role of consumers...
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Chapter 12
Consumer Diversity
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Learning Objectives~ Ch. 12
To understand:
1.The role of consumers’ age and marketing
2.The role of consumers’ gender and sexual orientation and consumer behavior
3.Regional, ethnic, and religious influences on consumer behavior and targeting specific groups
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Consumer Diversity
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U.S. Population by Age
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Age & Consumer Behavior
U.S. Age Trends– Teens and Generation Y—Born 1979 to 1994– Generation X—Born 1965 to 1976
• Some still have “angst”• Boomerang kids• High discretionary income• Delay marriage
– Baby Boomers—Born 1946 to 1964• Largest demographic• Peak earning years
– Seniors—65+ years old
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Teen & Tween Market
Purchasing Power = $108 BillionWorld’s teens have similar tastes, attitudes, preferencesBrand Loyalty—Develops at a younger agePositioning—Establish identity, rebelling, peer acceptanceAdvertising Messages—Incorporates symbols, issues, and language of teensMedia—Specific TV networks, radio stations, and InternetRecreation and special events
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Gen X
Born between 1965 and 197649 million Fewer Xers own homesBoomerang kidsCynical about obvious marketingMedia: alternative radio, cable TV, concerts, sporting events, music publications, vacation spots
How is Gen X different from Gen Z?
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Baby Boomers
Born between 1946 and 1964
78 million
Influential consumer segment because of size and buying power
Value individualism and freedom
Segments: leading boomers, core boomers, and trailing boomers
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Baby Boomers & Marketing
Target for cars, housing, travel, entertainment, recreation equipment, motor homes
Heavy consumers of financial services
Gourmet fast food
Comfortable clothing
Anti-aging products
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Seniors
Over 65 years old
Women outnumber men
Reduced information processing skills
Susceptible to the “truth effect”
Tend to be brand loyal
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Seniors & Marketing
Aging Population– Health-related products/services– Retirement communities
Marketing Communications– Oldies radio– Activity-specific publications & TV– Lifestyle-related events
Specialized Sales and Promotion
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This ad shows an elderly gentleman enjoying his retirement in a state of financial freedom & independence as a potential result of long-term retirement planning with Allianz.
Courtesy Allianz SE, Germany
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This ad targets Baby Boom & Senior men who want to look younger but not unrealistically younger. The ad focuses on the active lifestyle of older Americans with a surfboard.
Combe Incorporated
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Gender/Sexual Orientation & CB
Sex Roles- Goals– Agentic– Communal
Gender & Sexual Orientation– Masculine– Feminine– Androgynous
Differences in Acquisition & Consumption Behaviors– Women = Deliberate, thorough research– Men = Driven by themes, simple heuristics
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An increasingly larger number of marketers are beginning to target gay and lesbian consumers in their marketing communications. This ad for Paris-Las Vegas targets gay men.
Courtesy Paris Las Vegas
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Gender/Sexual Orientation & CB
Targeting Gender– Men—More emotional/caring– Women—Important/professional
Media Patterns
Targeting Gay/Lesbian Consumers
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Regional Influences
Regions of U.S.- Clustering- PRIZM NE & Mosaic
Regions of World
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Regions Across the World
Individualism vs. collectivism
Horizontal vs. vertical orientation
Masculine vs. feminine
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Ethnic Influences
Ethnic Groups
Acculturation
Multicultural Marketing
Ethnic Subcultures in Nations
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Ethnic Composition of Minors
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Hispanic American Consumers
Acculturated
Bicultural
Traditional
Intensity of Ethnic Identification
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Hispanic Americans are one of the largest, most diverse, and fastest growing ethnic groups in the United States. This State Farm ad targets this huge target market, which is estimated to include over 42 million members.
Copyright State Farm Mutual Automobile Insurance Company 2008. Used by permission.
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African American Consumers
With rising incomes, want to preserve cultural
identity
Importance of style, self-image, & elegance
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Asian American Consumers
Fastest growing major subculture
More diverse than Hispanic and African American
Strong Emphasis– Family– Tradition– Cooperation
Shop frequently/luxury goods
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Asian Americans, particularly Chinese Americans, represent a large and lucrative target market for many businesses, including Charles Schwab investment services.
Reprinted with permission. Copyright ©2008 Charles Schwab & Co. Inc.
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Questions?