24202 Lecture Notes - Lecture 10: Baby Boomers, Sexual Orientation, Railways Act 1921
Document Summary
Shaped by environment and customers in turn affect their environment: how age affects consumer behaviour. Important for segmentation as people of same age go through similar life experiences, share many common needs and consumption patterns: four major groups being targeted. Customers are the new marketers when it comes to teens. Gen y (tech savvy-self expression and social interaction) Boomerangers: for economic reasons, consumers in there 20(cid:495)s are delaying their independence (move back in with parents) More discretionary money = more $ to buy on their interests aka hedonic consumption as their parents pay for essentials. *target teens/gen y for brand loyalty (early experiences affect future) Gen x (cynical to obvious marketing techniques) Baby boomers (influential segment because of size and buying power) Comfortable clothing (to accommodate to middle age physique) Many in their peak earning years = high buying power. Seniors (info processing skill deteriorates with age: gender differences in acquisition/consumption behaviours.
