Consumer Trends
Seniors: generally, 60+ retirees
Millennial:early 1980-2000
Strong sense of independence and autonomy
Media and tech savvy
Less brand loyal
use sm to influence others
adapt quickly to innovation
socialise in different ways
wary of privacy intrusion
brand loyalty: build early brand awareness and preference leads to brand loyalty that is carried over to adulthood
positioning: helpful products to deal with adolescent pressures of establishing an identity, rebelling and being accepted by others
ads message: symbols, issues and language that teens can relate to
Traditional and social media: targeting teens through sm
Gen x: tend to be cynical about obvious marketing techniques, but clever/in tune with their values, attributes and interests work best
Thus ads should emphasis what they care about
Baby boomers: 1945-1964
Heavy consumers of financial markets
develop offerings specifically for the needs of baby boomers
think younger than those of previous generations
Brand loyal, know more about brands from Long term experience, may not extensively search when planing higher ticket purchases, less motivation to learn about new brands
Using media geared to groups interest
retailers can arrange their outlets to be more age friendly eg wider aisles and well lit
women are focusing on independence and career, marrying and childbearing later
Societal changes: dual-career families, parental leave for both genders
Household decision roles
decider: makes final choice
Buyer: purchase gds/sers
influencer: influence evaluation of choice alternatives and criteria
user
Gatekeeper: collect info importuned to puchase decision
Children are key influencers and deciders, thus marketers should target influencers as well as deciders and buyers