Sinem's Notes-Session 22 - GJ M I C H I GAN M KT 3 13...

GJ
MI CH IGAN
MKT 313
CONSUMER BEHAVIOR
Prof. Carolyn Yoon
Session 22
April 4, 2011
Winter 2011
©
Copyright 2011 by Carol yn Yoon All rights reserved
Consumer Diversity:
Generational Cohorts
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• Baby Boomers
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• Generation X
• Generation Y (a.k.a. Millennials)
• Generation Z
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Ages and Generational Cohorts
Cohort Born Coming of
Age
Age in
2010
Share of
Population
Depression
&
World War II
1912-1927 1930-1945 98-83 3%
Post-War
Builders
1928-1945 1946-1963 82-65 11%
Boomers I
1946-1954 1963-1972 64-56 11%
Boomers II
1955-1964 1973-1983 55-46 15%
Generation X
1965-1984 1984-2000 45-26 25%
Generati6rr-Y-t
' 197~1994 1995-2012 31-16 27%
Generation Z 1994-2004
1995-2009 15-1 7%
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Generation Y and Brand Loyalty
• Recent survey of Gen Y found
that 3% of Gen Y consumers say
they're loyal to a particular brand
• High degree of information
search (online)
• 94% say their decision to buy was
"positively influenced" by research
• 50% visit brand's website
• 40% check third-party review sites
• 75% conduct general consumer
review
2

The Disconfi rnlation or
"Gap"
Model
of Customer Satisfaction
• Satisfaction with dimension
i
=
Performance
on i-Expectations on i (S i = Pi - E;)
• Overall satisfaction with the transaction is the
sum of these differences across dimensions
or attributes.