CB SESSION 9 AGE SUBCULTURES

CB SESSION 9 AGE SUBCULTURES - Age Subcultures CONSUMER...

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shaping success in business and finance Age Subcultures 14-1 CONSUMER BEHAVIOR
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shaping success in business and finance Objectives When you finish this lecture, you should understand why: People of about the same age have many things in common. Teens are an important age segment for marketers. Baby boomers continue to be the most powerful age segment economically. Seniors will increase in importance as a market segment. 14-2
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shaping success in business and finance Age and Consumer Identity A consumer’s age exerts a significant influence on his/her identity- the big part of our identity Age cohort (“my generation”) Marketers target specific age cohorts Feelings of nostalgia Our possessions : need to identify with others of a same age/life stage 14-3
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shaping success in business and finance Generational Categories The Inter bellum Generation ( born at the beginning of 20 th century) The Silent Generation( born between the World Wars) The War Baby Generation( during WW II) The Baby Boom Generation( 1946-’64) Generation X (1965-’85) Generation Y(1986-2002) Generation Z (2003 and later) P.S: (Exact labels and cut off dates may vary) 14-4
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shaping success in business and finance Table 14.1 Nostalgia Scale Scale Items They don’t make ‘em like they used to. Things used to be better in the good old days. Products are getting shoddier and shoddier. Technological change will ensure a brighter future (reverse coded). History involves a steady improvement in human welfare (reverse coded). We are experiencing a decline in the quality of life.
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CB SESSION 9 AGE SUBCULTURES - Age Subcultures CONSUMER...

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