Section 2.3 The Consumer Market. CONSUMER PROFILES  Consumers are all very unique and buy for different reasons, therefore the more marketers know about.

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Presentation transcript:

Section 2.3 The Consumer Market

CONSUMER PROFILES  Consumers are all very unique and buy for different reasons, therefore the more marketers know about their customers, the better they are able to predict or influence their customers’ buying habits  Marketers create consumer profilesconsumer profiles

Knowledge of consumer profiles affects the following:  Distribution methods: show how best to deliver the product  Advertising: helps advertisers create meaningful messages  Product design: tend to like the same colours, shapes, materials and other design features  Media: knowing the media that different groups of consumers use, help to send promotional messages to the target audience  International markets

Consumer segment – identifiably group of consumers with common characteristics and buying habits

DEMOGRAPHICS The study of obvious characteristics that categorize people (age, gender, family life cycle, income level, ethnicity and culture) Profile of Green ConsumersGreen Consumers

Demographic groupings …  Age – marketers use a number of different groupings  Ex:0-9: Pre-customers; 10-15: Allowance Customers; 16-19: Youth Market; 20-25: Postsecondary market; 25-40: Family formation (nesters); 40-55: Establishment; 55+: Mature Market  Baby Boomers – most important group to businesses in Cdn. People born between 1946 & 1963 Started most of the major trends in the last 50 yrs. Will make the mature market the largest in the next 10 yrs.

Demographic groupings …  Gender – more products marketed just to women then men  Family Life Cycle – the stage in the FLC, determines your wants, needs and purchasing patterns. (Single, Never Married; Married, No Children; Married, Small Children etc.)  Income Level – group consumers by how much money they make  Ethnicity and Culture – if you do not understand the culture of your consumer you may offend them. (Ex. Colour has different meanings in different countries

PSYCHOGRAPHICS  system for measuring consumers’ beliefs, opinions, and interests.  Group people according to religious beliefs, tastes in music, lifestyle, attitudes toward health, and personality traits.

GEOGRAPHICS  where people live, wants and needs in differ in different geographic regions.  Three main categories:, urban, suburban and rural

PRODUCT USE STATISTICS  Consumers are also categorized by how frequently they use a specific type of product: heavy users, medium user, light user and the non-user.