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Chapter 12 Consumer Diversity.

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Presentation on theme: "Chapter 12 Consumer Diversity."— Presentation transcript:

1 Chapter 12 Consumer Diversity

2 Learning Objectives~ Ch. 12
To understand: The role of consumers’ age and marketing The role of consumers’ gender and sexual orientation and consumer behavior Regional, ethnic, and religious influences on consumer behavior and targeting specific groups

3 Consumer Diversity

4 U.S. Population by Age

5 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

6 Teen & Tween Market Purchasing Power = $108 Billion
World’s teens have similar tastes, attitudes, preferences Brand Loyalty—Develops at a younger age Positioning—Establish identity, rebelling, peer acceptance Advertising Messages—Incorporates symbols, issues, and language of teens Media—Specific TV networks, radio stations, and Internet Recreation and special events

7 Gen X Born between 1965 and 1976 49 million Fewer Xers own homes
Boomerang kids Cynical about obvious marketing Media: alternative radio, cable TV, concerts, sporting events, music publications, vacation spots How is Gen X different from Gen Z?

8 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

9 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

10 Seniors Over 65 years old Women outnumber men
Reduced information processing skills Susceptible to the “truth effect” Tend to be brand loyal

11 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

12 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

13 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

14 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

15 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

16 Gender/Sexual Orientation & CB
Targeting Gender Men—More emotional/caring Women—Important/professional Media Patterns Targeting Gay/Lesbian Consumers

17 Regional Influences Regions of U.S. Regions of World Clustering
PRIZM NE & Mosaic Regions of World

18 Regions Across the World
Individualism vs. collectivism Horizontal vs. vertical orientation Masculine vs. feminine

19 Ethnic Influences Ethnic Groups Acculturation Multicultural Marketing
Ethnic Subcultures in Nations

20 Ethnic Composition of Minors

21 Hispanic American Consumers
Acculturated Bicultural Traditional Intensity of Ethnic Identification

22 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 Used by permission.

23 African American Consumers
With rising incomes, want to preserve cultural identity Importance of style, self-image, & elegance

24 Asian American Consumers
Fastest growing major subculture More diverse than Hispanic and African American Strong Emphasis Family Tradition Cooperation Shop frequently/luxury goods

25 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.

26 Questions?

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