Product Professor S.J. Grant Spring 2006 BUYER BEHAVIOR, MARKETING 3250.

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Presentation transcript:

Product Professor S.J. Grant Spring 2006 BUYER BEHAVIOR, MARKETING 3250

Outline New product success Tapping into a need Tapping into an emotion Tapping into an aspiration Tapping into a trend

Creating a Need Do marketers create needs? Women’s razors Salad in a bag Designer water

Generations Civic (Millennials, (Generation Y) Adaptive (Silent) Correct ills of Reactive Era of prosperity and strength Pervasive optimism Uplifting patriotic sentiment Follow trends from Civic More complacent Head down hard work and life enjoyment Idealist (Boomers) Change agents as tired of / rebel against status quo of Adaptive Era of volatility (economic, political, social, etc.) Reactive (Generation X) Left reacting to changes initiated by Idealists Often era of economic downturn Feelings of negativity and disenfranchisement ubiquitous

Livestrong and Nike 17,516,398 requests since Tuesday 04 November, 2003 Post 9/11 patriotism

Target Generation Idealists (Baby boomers) Reactives (Generation X) Civics (Generation Y) Adaptives (Parents of boomers)

Demographics 25% % % % % % % Share of Population Age in 2000Coming of Age BornCohort Depression World War II Post-War Boomers I Boomers II Generation X Generation Y

Demographics Depression/ WWII Orange juice FDR Flattops No more butter Sunday drives Mom, Dad, Grandma, Grandpa Dr. Spock Baby Boomers The Juice runs Nixon HAIR No more war Drive-thrus Mom and Dad Dr. Strangelove Generations X & Y The Juice walks Reagan Skinheads No more ozone layer Drive-bys Mom or Dad Dr. Kevorkian

Intergenerational Trend