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Question
Which of the following global consumer market segments is young in age and outlook?A) strivers
B) devouts
C) fun seekers
D) creatives
E) intimates
Answer
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WEIGHT LOSS MINI CASE: Peter has decided that he wants to lose weight and develop a more defined physique in order to make himself more attractive to women. To this end, he joins a gym and begins eating low-fat, low-calorie foods. In particular, he cuts potato chips out of his diet and packs fruit in his lunch instead. After a few weeks, Peter decides that he actually prefers fruit with his lunch.
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WEIGHT LOSS MINI CASE: Peter has decided that he wants to lose weight and develop a more defined physique in order to make himself more attractive to women. To this end, he joins a gym and begins eating low-fat, low-calorie foods. In particular, he cuts potato chips out of his diet and packs fruit in his lunch instead. After a few weeks, Peter decides that he actually prefers fruit with his lunch.
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PARTY BEER MINI CASE: Party Beverages brews beer and specifically targets its products to college students and young professionals. Its advertisements typically show a group of young adults having fun and drinking Party Beer together, along with their slogan "Without the right Beer, it's just not a Party."
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TEQUILA MINI CASE: Viva Beverages has recently launched its own brand of tequila under the slogan "I never have, but I'd like to." Viva's television advertisements are set in a trendy night club with a well-dressed man standing at the bar. A scantily clad woman with a Russian accent is serving drinks. She approaches him and the following interaction ensues:
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Demographic variables can reveal ongoing trends that signal business opportunities, such as shifts in age and income distribution.
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Targeting is the process of dividing a market into subsets of consumers with common needs or characteristics.
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MUSEUM MINI CASE: Central City Art Museum is looking to increase museum revenues by trying to draw more people to the museum. Research has shown that the most frequent users of the museum are over 55 years old, have college degrees, and have a household income of over $100,000. Less frequent users of the museum have the same education and income profile as frequent users, but tend to be younger, between 35 and 55. Surveys suggest that these younger adults would use the museum more frequently, but do not have enough time due to the demands of their children and families. In order to increase museum entrance revenues, the administrative team wants to attract people who are likely to become heavy users of the museum when they get older, and try to bring them into the heavy user category at an earlier age. In an effort to encourage heavy museum use, the museum has begun a membership program that offers discounts on museum entrance and gift shop purchases and special exhibit preview events for members. The museum has also begun to offer free children's art and museum appreciation classes on weekend afternoons that will allow younger adults to drop their children off once a week and then enjoy the museum's exhibits and caf. In order to promote its new children's programming, the museum acquired an address list of local households with children, including the ages of those children, and intends to send tailored messages specifically highlighting programming that is age-appropriate for each household's children.
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MUSEUM MINI CASE: Central City Art Museum is looking to increase museum revenues by trying to draw more people to the museum. Research has shown that the most frequent users of the museum are over 55 years old, have college degrees, and have a household income of over $100,000. Less frequent users of the museum have the same education and income profile as frequent users, but tend to be younger, between 35 and 55. Surveys suggest that these younger adults would use the museum more frequently, but do not have enough time due to the demands of their children and families. In order to increase museum entrance revenues, the administrative team wants to attract people who are likely to become heavy users of the museum when they get older, and try to bring them into the heavy user category at an earlier age. In an effort to encourage heavy museum use, the museum has begun a membership program that offers discounts on museum entrance and gift shop purchases and special exhibit preview events for members. The museum has also begun to offer free children's art and museum appreciation classes on weekend afternoons that will allow younger adults to drop their children off once a week and then enjoy the museum's exhibits and caf. In order to promote its new children's programming, the museum acquired an address list of local households with children, including the ages of those children, and intends to send tailored messages specifically highlighting programming that is age-appropriate for each household's children.
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