Demographics, Psychographics and Personality
Individual Differences
Important tools for segmentation
They include:
Demographics, psychographics and personality Consumer Motivation (Chapter 8) Consumer Knowledge (Chapter 9) Consumer Beliefs, Feelings, Attitudes and Intentions (Chapter 10)
Analyzing and Predicting Consumer Behavior
Demographics is the size, structure, and distribution of a population
Marketers use demographic analysis as market segment descriptors and in trend analysis
I- Demographics
A- Structure of Markets
B- Geographic Factors
C- Economic Resources
D- Global Markets
A- Structure of Markets
Market analysis requires information about
People with needs
Ability to buy
Willingness to buy
Authority to buy
Affected by:
Birthrate
Immigration (30% of annual growth in the US)
Increasing life expectancy
Structure of Markets
Affects demand for products and services
Marketers can adapt product features, packaging, and communication strategies & messages depending on changing age structure of markets
Marketing to Children
Children make purchases themselves
Parents buy for children
Marketing to Teenagers
Growing in number
Greater need for peer acceptance, which often guides product and brand choice
More likely to switch brands quicker than other segments (Variety Seeking)
Like the social aspects of shopping with friends
Marketing to Young Adults
20-34 years
Growing
Need to buy products to set up households and for young children
With many needs and greater financial constraints, they often shop at value-oriented retailers
Marketing to Baby Boomers
Growing in number
Good market for spas, luxury travel, health clubs, cosmetics and healthy food
This group may be “aging” but doesn’t want to be reminded
Marketing to “Young Again” Market
Referred to as mature markets, seniors & elderly (>65 years)
Growing substantially
Many in this segment are feeling, thinking, and buying younger than previous generations
Many have adopted “young
Important tools for segmentation
They include:
Demographics, psychographics and personality Consumer Motivation (Chapter 8) Consumer Knowledge (Chapter 9) Consumer Beliefs, Feelings, Attitudes and Intentions (Chapter 10)
Analyzing and Predicting Consumer Behavior
Demographics is the size, structure, and distribution of a population
Marketers use demographic analysis as market segment descriptors and in trend analysis
I- Demographics
A- Structure of Markets
B- Geographic Factors
C- Economic Resources
D- Global Markets
A- Structure of Markets
Market analysis requires information about
People with needs
Ability to buy
Willingness to buy
Authority to buy
Affected by:
Birthrate
Immigration (30% of annual growth in the US)
Increasing life expectancy
Structure of Markets
Affects demand for products and services
Marketers can adapt product features, packaging, and communication strategies & messages depending on changing age structure of markets
Marketing to Children
Children make purchases themselves
Parents buy for children
Marketing to Teenagers
Growing in number
Greater need for peer acceptance, which often guides product and brand choice
More likely to switch brands quicker than other segments (Variety Seeking)
Like the social aspects of shopping with friends
Marketing to Young Adults
20-34 years
Growing
Need to buy products to set up households and for young children
With many needs and greater financial constraints, they often shop at value-oriented retailers
Marketing to Baby Boomers
Growing in number
Good market for spas, luxury travel, health clubs, cosmetics and healthy food
This group may be “aging” but doesn’t want to be reminded
Marketing to “Young Again” Market
Referred to as mature markets, seniors & elderly (>65 years)
Growing substantially
Many in this segment are feeling, thinking, and buying younger than previous generations
Many have adopted “young