...University, Department of Marketing, S-106 91 Stockholm, Sweden a r t i c l e i n f o Available online 29 January 2013 Keywords: Generational cohorts Generational marketing Market segmentation Generation Y Baby Boomers Consumer behavior Purchase involvement Retail strategies abstract This paper presents some significant empirical findings about generational cohorts and their shopping behavior. Marketing has long relied on the use of market segmentation. While birth age has been a useful way to create groups, it describes segments but does not help to understand segment motivations. However, environmental events experienced during one’s coming of age create values that remain relatively unchanged throughout one’s life. Such values provide a common bond for those in that age group, or generational cohort. Segmenting by ‘coming of age’ age provides a richer segmentation approach than birth age. This study compares two significant cohorts: Baby Boomers and Generation Y, with respect to their shopping behavior and purchase involvement for food, clothing and automobiles. For the three types of products, Baby Boomers value the retail experience and in-store service higher than Generation Y. For Baby Boomers, the purchase process starts with a retailer the consumer trusts, who gives advice for choosing the right product, while for Generation Y, the purchase process starts with choosing a product. This study presents implications for retail strategies that have an appeal to different...
Words: 9940 - Pages: 40
...Trends in Consumption Patterns In this paper the consumption trends and patterns of the increased appetite for Wine is evaluated and explained. Wine is an upcoming commodity in the United States, with some of the interest showing in the import variety of Wine, local Wineries, and retailers of Wine throughout the United States are seeing an increase in their volume sales from the increased interest in Wine. This increases the trends of sales and the demographic patterns in which that are purchasing this product. The drastic change in the demand of this product has been linked to a generational change in the United States that has become more involved in drinking Wine over any other spirit. The wine growth is well ahead of beer and other spirits when put up against each other. In 2010 the consumption of Wine increased to 276 Million cases from 205 million cases in 2000. An estimated 46 million adult core wine drinkers are thought to be behind this impressive increase. The core drinkers are put into categories that include ones who consume wine on a daily, weekly (once or more), less than weekly, and whom consume wine on two to three occasions a month. The marginal drinkers have shown to represent 31 million adults making the total consumers of wine to be in the neighborhood of 77 million people. Generational trends are the breaking down of the age groups defined in the trending of wine. Millennial, ages 17-34 represent about 70 million drinkers, Generation X, ages...
Words: 816 - Pages: 4
...| The Learning Business Research Proposal | | Research & Decision-Making for Business/Business Research Methods | | The Learning Business Research Proposal | | Research & Decision-Making for Business/Business Research Methods | The Learning Business Research Proposal Research & Decision-Making for Business/Business Research Methods 1. Analyzing the Business Decision or Problem Businesses currently face a change in the consumer landscape as generation Y consumers (persons born between the years 1982 and 1994) have the capacity to dominate the economy. It is important for companies to recognise generation Y’s behaviours, attitudes, characteristics and influences in order to “create and develop new business opportunities to remain competitive and generate profits.” Sullivan, D. P. (2004). However, this is proving difficult for businesses as the incentives behind generation Y consumption practices and preferences remain obscure. The following proposal intends on focusing on this division by examining the consumption behaviour of generation Y individuals. The findings concluded that generation Y consumerism was driven by issues in conjunction with but not limited to social trends, personal preferences and digital media and technology. Key Concepts: Throughout the investigation various research articles presented themes that influenced Generation Y consumer decision-making styles including: • Freedom • Finding yourself • Blend in/stand...
Words: 2765 - Pages: 12
...Australian Consumer Trends ACRS Secondary Research Report 2010 The information contained in this report remains the property of The Australian Centre for Retail Studies and may not be reproduced without the permission of the Executive Director. Although every effort has been made to ensure the information contained in this report is correct, the ACRS assumes no responsibility for its accuracy, reliability, nor does it necessarily endorse the organisations listed herein. Contact: The Australian Centre for Retail Studies (ACRS) Level 6, Building S 26 Sir John Monash Drive Caulfield East VIC 3145 Australia Tel: (03) 9903 2455 Fax: (03) 9903 2099 Email: acrs@buseco.monash.edu.au Website: www.buseco.monash.edu.au/centres/acrs Front Page: Dreamstime Photography The information contained in this report remains the property of The Australian Centre for Foreword The Australian Consumer Trends Report We are pleased to introduce to you the 2010 update of our Australian Consumer Trends report series. In order to understand consumer behaviour, it is crucial for retailers to monitor the major trends, dynamics and competitive forces. Consumer trends largely define the context within which retail organisations function and, as such, are key drivers of the market. The report is structured around six key trends – value, busy, green, local, bored, and digital. Each section discusses the various drivers underpinning each trend, as well as the implications these present...
Words: 1989 - Pages: 8
...Simões, L. e Gouveia, L. (2008). Consumer Behaviour of the Millennial Generation. III Jornadas de Publicidade e Comunicação. A Publicidade para o consumidor do Séc. XXI. UFP. Porto. 10 de Abril. Consumer Behaviour of the Millennial Generation Luís Simões1, Luís Borges Gouveia2 1 PhD Student (Information Science), Fernando Pessoa University (lsimoes@ufp.pt) 2 Associate Professor, Fernando Pessoa University (lmbg@ufp.pt) In this paper we present an integrative view of Millennials’ consumer behaviour. After applying some classical models based on the traditional “information-processing paradigm”, we concluded that only a framework that takes into account the impact of the culture and lifestyle surrounding Millennials is useful to derive guidelines on how to make successful advertising campaigns aimed at this population. The paper concludes with some recommendations on how to be able to reach this segment of consumers. I. Millennials as Consumers Advertisements targeting children and adolescents tend to have a profound impact on this population. Brands try to obtain lifelong loyalties by connecting with teens that will thereafter develop strong identity feelings with those brands. In a study carried out in 1999, with 5-9 year-old students in Dutch schools it was found that 52% of the children referred brand names when asked what gifts they wanted for Christmas (McNeal, 1999). In another study it was also found that the child's first request for a product occurs...
Words: 2248 - Pages: 9
...ENVIRONMENT OF BUSINESS ASSIGNMENT Describe 6 Forces that Operation Managers go for or look out for in the Environment of their Businesses or Organizations. There are many forces that Operations managers go for or look for in their business environments. They Include: 1. Threat of New Entrants – The easier it is for new companies to enter the industry, the more cut-throat competition there will be. Factors that can limit the threat of new entrants are known as barriers to entry. Some examples include: • Existing loyalty to major brands • Incentives for using a particular buyer (such as frequent shopper programs) • High fixed costs • Scarcity of resources • Government restrictions or legislation • Entry protection (patents, rights, etc.) • Economies of product differences • Brand equity • Switching costs or sunk costs • Capital requirements • Access to distribution • Absolute cost advantages • Learning curve advantages • Expected retaliation by incumbents 2. Brainstorm Factors Political Factors to Consider • When is the country's next local, state, or national election? How could this change government or regional policy? • Who are the most likely contenders for power? What are their views on business policy, and on other policies that affect your organization? • Depending on the country, how well developed are property rights and the rule of law, and how widespread are corruption and organized crime? How are these situations likely to...
Words: 1159 - Pages: 5
...Reducing Sugar Consumption Introduction: From large sugar cane fields to acres of beets, sugar is processed into a million dollar industry that satisfies the world’s sweet tooth. However, market failure exists among our society and health. As a public health regulator, I am tracking policies that attempt to reduce America’s sugar consumption in response to the dramatic rise in obesity over the last thirty years. The first target is adults and the sugar beverage industry, particularly, the consumption of regular sodas. I will detail four specific policy proposals that the government should consider on the sale of regular soda: taxes, subsidies, provisions and restrictions. In various outcomes, each policy could provide incentive for individuals toward a healthier lifestyle. Sugar is on the road to becoming America’s next controlled substance. Background: The United States is currently in a dangerous cycle of sugar consumption and disease with nearly two out of every three adults categorized as overweight or obese.(Figure 1,2) Among those characterized, their bodies were given a surplus in calories without an equal response of physical activity. Obesity restricts productivity, lower one’s quality of life, and reduces life expectancy. The excess body fat results in significant health problems such as an increased risk of developing high cholesterol, type 2 diabetes, depression and even orthopedic problems. Additionally, the society bears the bulk of the costs associated...
Words: 1724 - Pages: 7
...Journal of Behavioral Studies in Business Marketing to the Generations, Page 1 Marketing to the Generations Kaylene C. Williams California State University, Stanislaus Robert A. Page Southern Connecticut State University ABSTRACT Each generation has unique expectations, experiences, generational history, lifestyles, values, and demographics that influence their buying behaviors. Accordingly, many companies are reaching out to multi-generational consumers and trying to understand and gain the attention of these diverse buyers. Multi-generational marketing is the practice of appealing to the unique needs and behaviors of individuals within more than one specific generational group, with a generation being a group of individuals born and living about the same time [1]. This means that marketers need to understand the six U.S. generations: Pre-Depression Generation, Depression Generation, Baby Boomers, Generation X, Generation Y, and Generation Z. When a marketer factors in the different characteristics and behaviors of the generations, it should be easier to build relationships, gain trust, and close business. [2, 3] As such, an understanding of multigenerational marketing is very important to the marketer. The purpose of this paper is to describe briefly the U.S. generations in terms of the times in which they grew up as well as the characteristics, lifestyles, and attitudes of the group. However, the primary focus of the paper is to describe various marketing...
Words: 8975 - Pages: 36
...Case Study: Tapping the Ethnic Housing Market MKT 87505 – Consumer Behavior Theory & Analysis California Southern University Case Study: Tapping the Ethnic Housing Market “A subculture is a segment of a larger culture whose members share distinguishing values and patterns of behavior,” (Hawkins & Mothersbaugh, 2010, page 156). Subcultures are frequently encountered in America due to the ‘melting pot’ nature, continual immigration into the United States, and various religious and ethnic viewpoints experienced in modern day society. A collision of all these subcultures in America has led to difficult marketing approaches to address both the core values and norms of the American culture and unique market behaviors, values, and norms that may be specific to other subcultures. In the case study, “Tapping the Ethnic Housing Market,” Fannie Mae evaluated ethnic groups to determine the different perceptions associated with the home-buying process (e.g. reason to purchase a home, knowledge about the overall purchasing process, and confidence in the process). The case study will discuss the opportunities and challenges facing housing lenders and real estate agents today based in the perceptions of each ethnic group. Analysis “Ethnic subcultures are those whose members’ unique shared behaviors are based on a common racial, language, or national background,” (Hawkins & Mothersbaugh, 2010, page 158). The Fannie Mae case study analyzes the different perceptions of the home-buying...
Words: 1938 - Pages: 8
...Consumer Behavior Assignment 1 Activity | Community | Observations | | | | | | | | | | | | | | | | | | | | | | * Marketing Manipulation : Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency.[1] Market manipulation is prohibited in the United States under Section 9(a)(2)[2] of the Securities Exchange Act of 1934, and in Australia under Section s 1041A of the Corporations Act 2001. The Act defines market manipulation as transactions which create an artificial price or maintain an artificial price for a tradeable security. * Hobby -> product * Perception = view, opinion, taste, feeling, sound(hearing), touching, smell -> Sensory Stimulation Smell – Nose Touch – Skin See – eyes Sound – ears Tastes – Mouth * Expose to products -> attention -> Interpretation * Associating with sensory stimuli * Percepting * 1. Sensory Marketing Sample of perfumes [ Smell ] Music (in Zara – club music) [ Sound ] * Subliminal Messaging : Subliminal stimuli (pronounced /sʌbˈlɪmɨnəl/, literally "below threshold"), contrary to supraliminal stimuli or "above threshold", are any sensory stimuli below an individual's absolute threshold for conscious perception. Visual stimuli may be quickly flashed before an individual...
Words: 3945 - Pages: 16
...Comparative analysis of Disney Infinity and Activision Skylander Term Paper 1. The instrumental source of value creation for Activision via activities of Vicarious Visions was based on the core innovation involving using RFID technology to wirelessly connect a computer to the toy figures via the USB port. In the driving seat of this development were Bala brothers who had accumulated significant experience in the video gaming industry, and thus, who were well positioned to understand nuances of the market, latent and unmet needs. This revolutionary innovation has given birth to an entirely new genre of the life-to-toy gaming approach that since has undergone rapid evolution. In its strategic positioning of the new product through differentiation the company took advantage of the natural desire of children to re-enact imaginary world into reality. Only Skylander reversed the direction of such transgression according to the current state of technology, from reality back into imagination, augmented and embodied by the video game experience. This product was a natural progression of a novel concept developed by Activision in 2005 when the game Guitar Hero heralding detachment from the existing consoles and demonstrating capacity to penetrate the market by crossing over various platforms. Thus, armed with the previous hugely successful experience of developing in-house capabilities to establish production of plastic and electronic assembly designs, the company...
Words: 2281 - Pages: 10
...wheelchair rugby spectators. International Journal of Sports Marketing and Sponsorship, 12(1), 71-89. • Purpose of the study Correlation between sports motivation and consumption • Methodology adopted The motivation scale for sports consumption • Findings Physical skill and knowledge related to consumption • Managerial implications Influence consumers via increased knowledge • Conclusion Achievement is related to higher consumption 9. Kim, M. S., & James, J. (2016). The theory of planned behaviour and intention of purchase sport team licensed merchandise. Sport, Business and Management: An International Journal, 6(2), 228-243. • Purpose of the study Will they buy merchandise • Methodology adopted TPB and PBC • Findings 64% difference in STLM • Managerial implications Past behavior is good deciding factor • Conclusion Past behavior is best way to predict buying behavior 10. Rocha, C. M., & Fink, J. S. (2015). Patriotism, national athletes and intention to purchase international sports products. International Journal of Sports Marketing and Sponsorship, 16(2), 57-71. • Purpose of the study Will NBA players buy international merchandise • Methodology adopted Moderated meditation model • Findings Patriotism plays significant role in buying behavior • Managerial implications The model fits well and gives a linear relationship • Conclusion • Patriotism plays significant role in buying behavior 11. Lobo, A., Meyer, D., & Chester, Y. (2014). Evaluating consumer response associated...
Words: 1626 - Pages: 7
...68 3 LEARNING OBJECTIVES After reading this chapter you should be able to: LO1 Scanning the Marketing Environment WEB 2.0 IS ALL ABOUT YOU! The Web is changing at an extraordinary pace and each new change provides more customization and convenience for you. If you use Myspace. com, Del.icio.us, Secondlife, or any one of hundreds of new products on the Web you are already part of the new world of the Web! Not long ago the Web simply provided a modern channel for traditional businesses. Music led the way with file-sharing services such as Napster and eventually online stores such as iTunes. The entire entertainment industry followed by offering books, movies, television, radio, and photography on the Web. The digital revolution allowed all of these businesses to benefit from the technical aspects of the Web. Now the term Web 2.0 is used to describe the changes in the World Wide Web that reflect the growing interest in collaboration, open sharing of information, and customer control. Many products and services such as podcasts, weblogs, videologs, social networking, bookmarking, wikis, folksonomy, and RSS feeds are already available, and many more are in development. As the focus moves from providing a new channel for existing businesses to empowering individual consumers with customized products, suddenly the Web is all about you! You can create your own video and post it on YouTube, sell your photos on iStockphoto, build a social networking site on Ning, and publish...
Words: 12727 - Pages: 51
...|Marketing |[pic]process by which companies create value for customers and build strong customer | | |relationships to capture value from customers in return | |[pic]Market offerings |[pic] | | |some combination of products, services, information, or experiences offered to a market to| | |satisfy a need or want | |[pic]Marketing myopia |[pic] | | |mistake of paying more attention to the specific products a company offers that to the | | |benefits and experiences produced by these products | |[pic]Exchange |[pic] | | |act of obtaining a desired object from someone by offering something in return | |[pic]Markets |[pic]set of actual and potential buyers of a product or service | |[pic]Marketing management |[pic] ...
Words: 3111 - Pages: 13
...people purchase products and select certain services; a marketer should research the psychological, social, personal, and also similar traits and behaviors that consumers share based on those social and psychological factors to find out what truly motivates the buyer. An organization will be and remain successful, by learning how to leverage the different factors that influence consumer purchasing behavior to effectively market their products and or services while maximizing their sales. The factors that seem to play the biggest role in consumer's buying behavior include social factors and psychological factors. The psychological factors that influence an individual's decision to make a purchase are further categorized into the individual's motivations, perceptions, learning and his beliefs and attitudes, or personality traits. The social factors that can have an influence include: personal influence, reference groups, family influence, social class, culture and subculture. While marketing products and services to certain individuals or groups, manufacturers need to determine the needs of the purchaser to reach their target group, which is where the psychological processes may come into play. Many psychological processes influence consumer’s buying behavior, in particular, mood, personality, and perception. Factors such as a person’s mood can either encourage or discourage a consumer from purchasing a product. Research has shown people in a good mood will purchase items even...
Words: 2537 - Pages: 11
