Consumer Behavior Notes Ch. 1
6/3/2013-monday v Segmentation
Ø Finding target market and try to attract those people
Ø Ex: VCR – new technology for people that have extra income and technology oriented
Now that DVDs come out, you target the VCR to poorer people and people that are older and people that want to build a collection.
As product moves through life cycle, find new ways to Ø DeBeers and Diamond: 1930s and 1940s – 75% of diamonds sold for rings and jewelry were sold in the U.S (mostly low priced and small stones), but DeBeers could not open shops bearing their name. WHY? They were accused of being a monopoly. They hired a marketing firm, Ayer, to advance their U.S interest. Those people were working FOR DeBeers and not working WITH them so it was still legal. “Even though were a monopoly, we’re still fair”.
§ Took a new marketing approach:
· Ayer convinced Hollywood execs to:
¨ Change name of the film
¨ Give film stars diamonds to wear on screen (product placement with their diamonds. (if a famous movie star wears their diamonds, then society will want to go out and buy their diamonds)
¨ Ayer sent newspapers “upbeat” stories glorifying the diamond trade (even though they were blood diamonds)
Ø Ex: article - “How diamonds spark the lead of war and peace”
· Post WWII:
¨ Ayer strives to make the diamond engagement ring
¨ Visiting speakers addressed high school assemblies. Priming these kids to think about diamond engagement rings and to believe that the only way to truly show their love is to give a girl a diamond ring.
· 1948:
¨ “A diamond is forever” implying that love is forever
¨ Early 1950s: only half of U.S women were given a diamond ring
¨ By 1690: 8 out of 10 of women were given a diamond ring at engagement
· 1965
¨ Campaign to internationalize the diamond
Ø Japan, Germany, Brazil
¨ Slogan-“renewal of romance” to make their market segment a little bigger to
Ø Finding target market and try to attract those people
Ø Ex: VCR – new technology for people that have extra income and technology oriented
Now that DVDs come out, you target the VCR to poorer people and people that are older and people that want to build a collection.
As product moves through life cycle, find new ways to Ø DeBeers and Diamond: 1930s and 1940s – 75% of diamonds sold for rings and jewelry were sold in the U.S (mostly low priced and small stones), but DeBeers could not open shops bearing their name. WHY? They were accused of being a monopoly. They hired a marketing firm, Ayer, to advance their U.S interest. Those people were working FOR DeBeers and not working WITH them so it was still legal. “Even though were a monopoly, we’re still fair”.
§ Took a new marketing approach:
· Ayer convinced Hollywood execs to:
¨ Change name of the film
¨ Give film stars diamonds to wear on screen (product placement with their diamonds. (if a famous movie star wears their diamonds, then society will want to go out and buy their diamonds)
¨ Ayer sent newspapers “upbeat” stories glorifying the diamond trade (even though they were blood diamonds)
Ø Ex: article - “How diamonds spark the lead of war and peace”
· Post WWII:
¨ Ayer strives to make the diamond engagement ring
¨ Visiting speakers addressed high school assemblies. Priming these kids to think about diamond engagement rings and to believe that the only way to truly show their love is to give a girl a diamond ring.
· 1948:
¨ “A diamond is forever” implying that love is forever
¨ Early 1950s: only half of U.S women were given a diamond ring
¨ By 1690: 8 out of 10 of women were given a diamond ring at engagement
· 1965
¨ Campaign to internationalize the diamond
Ø Japan, Germany, Brazil
¨ Slogan-“renewal of romance” to make their market segment a little bigger to