DM 272 1st Edition Lecture 17Outline of Last Lecture I. DemographicsII. Trend AnalysisIII. Age SubcultureOutline of Current LectureI. Age Subculture (cont.)II. DemographicsIII. PsychographicsIV. Psychographics-LifestylesCurrent LectureAge Subculture (cont.)- GenX-baby busterso Born between 1965 and 1985o Need to set up households with young childreno Independent and entrepreneurial Over 60% of this generation want to be their own boss- Baby Boomerso Born between 1946 and 1964 o Hippies in the 1960s and yuppies in the 1980s These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Social cause orientedo Greatest in workforce, income, voting power, and political influence Food, apparel, retirement programsDemographics- Economic resourceso Income (or household income) $$$ From wages and salarieso Wealth Family’s net worth or assets minus liabilities- E.g., stocks, homes Influencing willingness to spend, not abilityPsychographics- The use of psychological, sociological, and anthropological factors… to determine how consumers make a particular decisiono Lifestyle profilesPsychographics- Lifestyles- Patterns in which people live and spend time and money- AIO measures: activities, interests, and opinionso A: an actiono I: the degree of excitement and attention to an object, event, or topico O: Interpretations, expectations, and evaluations- How are lifestyle data used?o To define a target marketo To create a new view of the marketo To position the producto To better communicate product attributeso To develop product strategyo To market social and political
View Full Document
Unlocking...