...Services 20 (2013) 189–199 Contents lists available at SciVerse ScienceDirect Journal of Retailing and Consumer Services journal homepage: www.elsevier.com/locate/jretconser Generation Y vs. Baby Boomers: Shopping behavior, buyer involvement and implications for retailing Anders Parment Stockholm University School of Business, Stockholm 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...
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...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...
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...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...
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...IT’S SHOW TIME! Don’t blink, because the world of entertainment is changing faster than anyone imagined possible. Online music, high-definition televisions, digital photography, computer-based media centers, and software for making movies are just some of the many products new to the entertainment industry. The revolution began with the combination of Apple’s iPod music player, which can store 10,000 songs in a device smaller than a deck of cards, and its iTunes Music Store, which sells more than 10,000,000 songs each month for just $.99 each. Other new forms of digital entertainment products include digital video recorders (DVRs), which record TV shows on hard drives instead of tape, and home entertainment “hubs,” which utilize wireless networks to link digital devices from around the home. Some experts even predict that there will probably be a version of iPod and iTunes for movies in the near future. Suddenly the music, television, photography, movie, and computer industries are converging. Musicians, recording companies, television networks, camera companies, movie studios, computer companies, retail stores, and consumers like you are part of a completely different entertainment marketplace. How did this happen? The marketing environment changed! First, consumers changed. They gradually made it clear that they prefer more convenient and customer-friendly approaches to purchasing music, television programming, movies, and photographs. Second, technology...
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...1 United States Coast Guard Auxiliary Study Can the U.S. Coast Guard Auxiliary survive in the 21st Century? How changing generational attitudes will affect an all-volunteer organization August 2006 1 This page intentionally left blank INDEX 1. Introduction 1 2. Analysis 3 A. The canary in the mine 4 B. Understanding generational attitudes 4 C. Four generations 5 D. Exploring the next generation of retirees: The Baby Boomers 6 E. Gen-X: It’s about lifestyle 8 F. Call them Gen-Y or Millennials, they deserve our attention 10 G. The new volunteers: What to expect 12 ` H. My time is not your time 14 I. Generational differences shaping leadership 15 J. American volunteer rate steady 17 3. Conclusions 19 A. Past expectations 20 B. Present construct 20 C. Spontaneous volunteer: Something new 21 D. High touch 21 E. Exploring contemporary trends in volunteering 23 1. Volunteer burnout 23 2. The human touch 24 3. Professionalizing the volunteer corps 25 4. New forms of volunteerism 25 5. Diversity 26 6. Technology 26 F. Communications challenge 27 4. Summary 29 6. Appendix 31 1 Membership numbers How many members the Auxiliary needs to meet their mission obligations and how many members it needs to meet its financial requirements would be two different answers. Getting a specific answer from the leadership is difficult because of the way the two spiral around each other like a double helix strand of DNA. They are – for now – inseparable...
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...Institute Troy, New York 12180 Phone: 518-276-2933 Fax: 518-276-8661 Email:sandes@rpi.edu May, 2008 CURRENT POSITION ASSOCIATE PROFESSOR (with tenure). School of Management Rensselaer Polytechnic Institute, Affiliate of Sloan Foundation Industry Studies Centers Major Interests: • Innovation Management • Product Design, Marketing and Brand Management • Innovative Teaching Approaches (Multimedia Enhanced on campus and Distance Learning) AWARDS 1995 Boeing Outstanding Educator Award Hesburg Award Team (for Educational Innovation) In 1995, I was a co-recipient of the Boeing Outstanding Educator Award and a member of the team receiving the Hesburg Award for Educational Innovation TEACHING Teaching Role. My recent teaching has been in Rensselaer’s resident MBA program (both full and parttime), Professional and Distance Education Program and undergraduate programs. My research and teaching have made important contributions to efforts to build the marketing and management and technology curricula in the School of Management at Rensselaer and at other universities who have adopted our teaching materials. As a pioneer in interactive leaning material on product development and manufacturing, I have developed several interactive multimedia cases and collaborated on the development of simulations designed to teach marketing principles and bridge management and engineering disciplines. The simulations teach marketing, design and manufacturing concepts by exposing students to tradeoffs inherent...
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...Contents FOREWORD A.G. LAFLEY 9 CHAPTER 1: START ME UP 11 Here’s what I learned from five great businesses I’ve worked for: • Always surround yourself with Inspirational Players • Zig when others zag • Get out of the office and into the street • Live on the edge • Nothing is Impossible CHAPTER 2: TIME CHANGES EVERYTHING 23 The journey from products to trademarks, from trademarks to brands. A quick look at why brands are running out of juice as they confront the Attention Economy CHAPTER 3: EMOTIONAL RESCUE 37 Why I believe emotional connections can transform brands. If you spend your days reviewing data, read every word of this chapter. Twice. INSIGHTS: Maurice Lévy, Publicis Groupe CHAPTER 4: ALL YOU NEED IS LOVE 49 Taking brands to the next level depends on one four-letter word: L-O-V-E. INSIGHTS: Sean Fitzpatrick, sportsman; Tim Sanders, Yahoo! CHAPTER 5: GIMME SOME RESPECT 59 Love will change the way we do business, but only if it is built on Respect. No Respect, no Love. Simple. Let’s celebrate what Respect has achieved CHAPTER 6: LOVE IS IN THE AIR 65 Okay, so how do you create Loyalty Beyond Reason? INSIGHTS: Alan Webber, Fast Company magazine CHAPTER 7: BEAUTIFUL OBSESSION 73 So what are Lovemarks? They inspire Loyalty Beyond Reason through their obsession with Mystery, Sensuality, and Intimacy. Here are our first ideas about putting them into action. INSIGHTS: Jim Stengel, Procter & Gamble CHAPTER...
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...Contents FOREWORD A.G. LAFLEY CHAPTER 1: START ME UP Here’s what I learned from five great businesses I’ve worked for: • Always surround yourself with Inspirational Players • Zig when others zag • Get out of the office and into the street • Live on the edge • Nothing is Impossible 9 11 CHAPTER 2: TIME CHANGES EVERYTHING The journey from products to trademarks, from trademarks to brands. A quick look at why brands are running out of juice as they confront the Attention Economy 23 CHAPTER 3: EMOTIONAL RESCUE Why I believe emotional connections can transform brands. If you spend your days reviewing data, read every word of this chapter. Twice. INSIGHTS: Maurice Lévy, Publicis Groupe 37 CHAPTER 4: ALL YOU NEED IS LOVE Taking brands to the next level depends on one four-letter word: L-O-V-E. INSIGHTS: Sean Fitzpatrick, sportsman; Tim Sanders, Yahoo! 49 CHAPTER 5: GIMME SOME RESPECT Love will change the way we do business, but only if it is built on Respect. No Respect, no Love. Simple. Let’s celebrate what Respect has achieved 59 CHAPTER 6: LOVE IS IN THE AIR Okay, so how do you create Loyalty Beyond Reason? INSIGHTS: Alan Webber, Fast Company magazine 65 CHAPTER 7: BEAUTIFUL OBSESSION So what are Lovemarks? They inspire Loyalty Beyond Reason through their obsession with Mystery, Sensuality, and Intimacy. Here are our first ideas about putting them into action. INSIGHTS: Jim Stengel, Procter & Gamble 73 CHAPTER 8: ALL I HAVE TO DO IS DREAM ...
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...Summary Global Marketing A market-responsive approach Svend Hollensen Second Edition 2001 ISBN 0-273-64644-3 -1- PART 1 Chapter 1 THE DECISION WHETHER TO INTERNATIONALIZE Global marketing in the firm SME: small medium sized enterprises LSE: large scale enterprises Companies wit little international experience and a weak position in their home market have little reason to try to perform on global markets. Instead they should try to establish a stronger position on their home market. A firm that finds itself as a dwarf on the global market may seek ways to increase their net worth by seeking partners, suited for a buy-out on longterm. If a firm already has international competences, it can overcome some of it’s competitive disadvantages by going into alliances with companies representing complementary competences. If you are ready for global marketing or not is bases on two things: 1. The industry of your business (how global is / can it be) 2. The preparedness for internationalisation 1 can be divided into mature; adolescent; immature 2 can be divided in local; potentially global; global Given the character of a company in both segments, one of the nine possible strategies can be chosen. You can find these in figure 1.1 on page 4 of Global Marketing. Difference between management styles of LSE and SME: Many LSE have begun downsizing their companies operations, so in reality, many LSE act like a lot of small differ operations. It can be...
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...[pic][pic] [pic]Copyright © 2005 West Chester University. All rights reserved. College Literature 32.2 (2005) 103-126 [pic] | |[pic][pic][pic] | | | |[pic] | | | |[pic] | | | |[pic] | | | |[pic] | | | |[pic] | | | | | | | | | | | | | | | | | | | |Access provided by Northwestern University Library ...
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...ideas by an identified sponsor.‖ Elaboration of the above definition: First advertising is ―paid for‖ that means it involves commercial transaction. Secondly advertising is ―non-personal‖ that means it is directed towards a mass audience not directed towards any individual as it is in the case of personal selling. Finally advertising is identifiable with its sponsoring authority or advertiser. It discloses or identifies the source of opinions and ideas, it presents. Einstein College of Engineering Objectives of Advertising: There are two types of Advertising Objectives, I. II. General Objectives. Specific Objectives. I. General Objective a) Stimulating Demand – It can be done in two ways, first the present users of the product may be persuaded to increase the present rate for product consumption. Second way is to attract the new users into the market by telling them the qualities of the product. b) Increased profits. II. Specific Objectives of Advertising a) Preparing ground for new product. b) Facing competition. c) Informing the changes to the consumers. d) Barring new entrants. e) Creating or enhancing goodwill. f) To assist salesmen. g) Expanding the market to new buyers. h) Reminding customers. Einstein College of Engineering Elements to Be Considered In Setting an Objective: 1. Sales as an Objective. A convenient and enticing advertising involves a construct like immediate sales or market share. Advertising is one of...
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...MGMT 619 Spring 2009 Carnival Corporation [pic] Team 6 Amy Clogher Jacob Griego Ted Noble David Sciortino Deepa Sethi Executive Summary Carnival Corporation is the leading cruise line company in the international cruising industry, with 11 major cruise line brands and is clearly a winning company. It controls almost 50% of the cruise line market and is a broad line provider. The company does not face any considerable challenges within its industry and has adequately responded to all threats. Although 2008 was a challenging year due to the economic crisis, Carnival posted net income for 2008 of $2.3 billion (15.9% of sales). Carnival’s strategy is to be a broad line provider with a wide scope on a large scale. Carnival maintains this strategy by focusing on cost leadership in the contemporary and bargain lines, and then differentiating in the premium and luxury lines of their product mix. Industry & Competition The cruise line industry is a moderately attractive, 3-star industry that is characterized by top incumbents capturing a majority of the economic value in the industry, high fixed costs, cost savings achieved from economies of scale, and a high degree of rivalry between the top two industry incumbents. The cruise line industry has reached the growth stage after the inflection point. It is predicted that the growth stage will be longer in the cruise line industry due to frequent product upgrades and niche enhancements that forestall...
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...Manifesto for the Chief Executive Election 2012 C.Y. Leung ONE HEART, ONE VISION C.Y. Leung 1 4 1. Population and Human Resources 10 2. Land Planning and Transportation 16 3. Economic Policy 22 4. Housing 34 5. Education 39 6. Social Welfare 44 7. Medical and Health Services 51 8. Religion, Culture and Arts 56 9. Sports Policy Table of Content Foreword 62 10. Environment Protection and Conservation 66 11. Administrative and Political System 72 Epilogue 80 ONE HEART, ONE VISION 2 3 Election 2012, has provided me with a much deeper understanding of the expectations of different sectors in our society. And, at the same time, it has strengthened my resolve to serve the community as a whole. During this period, my campaign team and I have visited all 18 districts, held consultative gatherings ~ "Together we write the Manifesto" ~ and met with people from all walks of life at close quarters. We listened to the views expressed by ordinary people, who make up the majority of the population, and we talked to business people, both big corporations and local traders alike. We attended numerous other activities, met with Members of the Election Committee and answered their queries. Every step of the way, we were accompanied by the media, reporting and helping us to spread our messages to those who were not able to come to the gatherings. We were mindful that every proposal which...
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...ECONOMIC GEOGRAPHY Y U K O A O YA M A J A M E S T. M U R P H Y SUSAN HANSON KEY CONCEPTS IN key concepts in economic geography The Key Concepts in Human Geography series is intended to provide a set of companion texts for the core fields of the discipline. To date, students and academics have been relatively poorly served with regards to detailed discussions of the key concepts that geographers use to think about and understand the world. Dictionary entries are usually terse and restricted in their depth of explanation. Student textbooks tend to provide broad overviews of particular topics or the philosophy of Human Geography, but rarely provide a detailed overview of particular concepts, their premises, development over time and empirical use. Research monographs most often focus on particular issues and a limited number of concepts at a very advanced level, so do not offer an expansive and accessible overview of the variety of concepts in use within a subdiscipline. The Key Concepts in Human Geography series seeks to fill this gap, providing detailed description and discussion of the concepts that are at the heart of theoretical and empirical research in contemporary Human Geography. Each book consists of an introductory chapter that outlines the major conceptual developments over time along with approximately twenty-five entries on the core concepts that constitute the theoretical toolkit of geographers working within a specific subdiscipline. Each entry provides...
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...Agriculture and Rural Development Discussion Paper 3 The World Bank Coffee Markets New Paradigms in Global Supply and Demand Bryan Lewin Daniele Giovannucci Panos Varangis First printing or Web posting: March 2004 ©The International Bank for Reconstruction and Development Agriculture and Rural Development Department 1818 H Street, N.W. Washington, DC 20433 Agriculture and Rural Development Discussion Papers is an informal series produced by the Agriculture and Rural Development Department of the World Bank. These papers raise concepts and issues for discussion in the broader development community and describe ongoing research and/or implementation experiences from the Bank. The findings, interpretations, and conclusions are the authors’ and should not be attributed to the World Bank, its management, its Board of Executive Directors, or the countries they represent. Some of the numbers quoted are estimates or approximations and may be revised at a later stage. About the authors Bryan Lewin was previously the Economist of the Association of Coffee Producing Countries and now works in the Agriculture and Rural Development department of the World Bank on commodities and risk management. Daniele Giovannucci is a former corporate executive and market strategies expert. He advises international agencies and governments and is a senior consultant for The World Bank Group. Panos Varangis is a Lead Economist in the Agricultural and Rural Development department of the World...
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