Available:*
Library | Item Barcode | Call Number | Material Type | Item Category 1 | Status |
|---|---|---|---|---|---|
Searching... | 30000005181908 | HF 5415.32 B45 2005 | Open Access Book | Book | Searching... |
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Summary
Summary
Behavior-based demography is yesterday's news. Value population demography profiles consumers based on consistent and lasting values, not constantly changing past behaviors. Current demographic trends confirm we are entering an era characterized by the most generationally and ethnically diverse consumer groups in American history. Business, marketing, and sales professionals must understand what influences these segmented populations and how to best position products and services to these groups for immediate and lasting profit. For several decades, conventionally driven market research has emphasized age-based generations, like the baby boomers, Gen X, Gen Y, and millennials, which are based on 20-year maturation cycles or booms and busts in birth rates. However, none of these studies has ever delved into the historical and cultural conditions that shape the lasting values and, ultimately, the consistent buying decisions of these groups. rich insights and dozens of ideas that can be applied to pressing business situations, including ways to help organizations: Increase sales by understanding what consistently drives consumer spending decisions. Enhance market share by speaking to shared values and not just past actions. Gain greater return on investment by targeting lifelong values and increasing customer loyalty. Motivate groups more effectively with customized messages. Avoid alienating some groups while motivating others. Marketers will learn to brand products and services at a much deeper and more lasting level. Salespeople will understand how to develop strong selling relationships with high-potential customers. And corporate strategists will learn to identify and evaluate emerging trends that will become lucrative market opportunities.
Reviews 1
Choice Review
Given the wide variation in characteristics of potential consumers, marketers must tailor their products, services, and promotional messages to groups that have commonalities in order to effectively and efficiently solicit likely buyers. One approach to identifying pertinent groups is as behaviorally related age groups, e.g., baby boomers. The authors (strategic marketing and trend analysis consultants) contend that traditional behavioral classification fails to capture consumer trends. As a result of their research, they established five generational groups based on mutually shared and lasting values that explain and predict consumer behavior, rather than simply describe it. The authors searched for icons that identified each of the generations, called value populations, and analyzed those icons to determine trends. The book focuses on these value populations together with insights into marketing to them. The concept of age-based groups is of particular importance to marketers, but it should also interest others who need to understand broad population segments. This book provides a new and challenging approach to identifying generations in the US. For a more traditional approach to the topic, see American Generations: Who They Are, How They Live, and What They Want, by the editors of New Strategist Publications (5th ed., 2005; 4th ed., CH, Apr'03, 40-4378). ^BSumming Up: Recommended. Upper-division undergraduate through professional collections. W. C. Struning emeritus, Seton Hall University
