WHAT DRIVES CONSUMER BEHAVIOUR
“WHAT DRIVES CONSUMER BEHAVIOUR” by Erika Rence
Rence describes in her article how the consumer behaviours have changed during the last years and how it is affected by world events, uncertainty, insecure futures and many others.
She describes that the change in Consumer Behaviour requires the distinctive marketing for separate age-groups, exactly 5 groups.
Birth-12 years old:
This group of consumers cannot be put under the same marketing scheme. Four distinct under-groups are needed, as Rence describes. Today, children within this market segment grow up completely different than before. They are from early age exposed to all kinds of technical gadgets, internet, gaming consoles. Therefore they will be a very demanding generation of consumers.
13-17 years old:
The available technology and change in social education will require that products for this age group will be earth and community friendly, multi-tasking and give the possibility customize products for their self-expression.
18-34 years old:
This group of consumer has more and more money to spend, since they are exposed in a young age to high paid jobs and therefore the desire for luxury goods is very high. But not at any price, and not without being environmentally friendly and connected to a cause. Marketing to this group requires a product with good value, good design, luxury, appearance of some social responsibility and an well selected advertising campaign.
35-54 years old:
This generation is spending a lot but carefully. Still they have obligations for their kids, to pay for their education. They want to indulge themselves. Want to have a deal but not sacrifice the quality. Willing to pay more for a good product. Health and Wellness is a potential market for them!
55+ years old:
Looking toward retirment, no financial obligations anymore. Spending for health & care products is important, but also travelling.
Conclusion:
I fully agree with Rence that it becomes more and
Rence describes in her article how the consumer behaviours have changed during the last years and how it is affected by world events, uncertainty, insecure futures and many others.
She describes that the change in Consumer Behaviour requires the distinctive marketing for separate age-groups, exactly 5 groups.
Birth-12 years old:
This group of consumers cannot be put under the same marketing scheme. Four distinct under-groups are needed, as Rence describes. Today, children within this market segment grow up completely different than before. They are from early age exposed to all kinds of technical gadgets, internet, gaming consoles. Therefore they will be a very demanding generation of consumers.
13-17 years old:
The available technology and change in social education will require that products for this age group will be earth and community friendly, multi-tasking and give the possibility customize products for their self-expression.
18-34 years old:
This group of consumer has more and more money to spend, since they are exposed in a young age to high paid jobs and therefore the desire for luxury goods is very high. But not at any price, and not without being environmentally friendly and connected to a cause. Marketing to this group requires a product with good value, good design, luxury, appearance of some social responsibility and an well selected advertising campaign.
35-54 years old:
This generation is spending a lot but carefully. Still they have obligations for their kids, to pay for their education. They want to indulge themselves. Want to have a deal but not sacrifice the quality. Willing to pay more for a good product. Health and Wellness is a potential market for them!
55+ years old:
Looking toward retirment, no financial obligations anymore. Spending for health & care products is important, but also travelling.
Conclusion:
I fully agree with Rence that it becomes more and