bnoo blog

Is generational marketing just age marketing or more? Currently the generations are split up as follows: Tweens aged 9-12 Ipod generation/Millennials - current teens Generation Y aged 16-33 Generation X aged 34-44 (also known as Baby busters due to the drop in birth rate following the baby boom)  Baby boomers aged 45-65 The chart shows the birth rate (births/thousand population) in  the US. The baby boom can clearly be seen in the blue line. From:  "Vital Statistics of the United States, 2003, Volume I, Natality",  Other generations include: The post-war generation born 1928-45 The World War 2 generation born 1922-37 Depression era generation born 1912-21 Generation marketing takes into account the age, values , experiences, family life cycle stage, group memberships. It is different from age segmentation  as the each generation will have different experiences and be exposed to different products, technology and ideas which form...

STP is a three step process involving segmentation, targeting and positioning. Smith (1957) describes segmentation as being based on the observation of the evolution of demand and represents a more precise and rational adaptation of the product and the marketing effort to meet customer or user demand. Kotler (2000) describes segmentation as: “the subdividing of a market into homogenous (or similar) subsets of customers, where any subset may conceivably be selected as a target market to be reached with a distinct marketing mix" Segmentation: Dividing the market up into distinctive groups. Targeting: Selecting a group (segment) to market to. Positioning: Developing a market strategy which positions the product to appeal to a target customer base within the chosen segment. It is only suitable to use segmentation when the following are true: Consumers in the segment can be reached by a unique marketing mix. Consumers in the segment will respond to the marketing mix desig...