| Analyzing the Marketing Environment 73
Chapter 3 | Analyzing the Marketing Environment 73
are done or almost done with child rearing and lean toward more exotic travel loca- tions farther from home, “the Generation Xers are new families who need new experi- ences close to home,” says Alisa Bailey, CEO and president of VTC. “They want beaches, good places to relax, warm, friendly people. They love amusement and theme parks, and they want places that are good for what we call soft adventure, like canoe- ing, and hiking.” Don’t worry; the slogan won’t change. “What will change,” explains Bailey, “is our strategy toward the younger market. We will be showing more Gen X families in our marketing. It will be a more family-oriented campaign.” VTC plans to use Facebook, Twitter, and blogs to help reach Generation X households.
Millennials. Both the baby boomers and Gen Xers will one day be passing the reins to the
Millennials (or Generation Y)
Millennials (also called Generation Y or the echo boomers). Born between 1977 and 2000,
The 83 million children of the baby these children of the baby boomers number 83 million, dwarfing the Gen Xers and larger boomers, born between 1977 and 2000.
even than the baby boomer segment. This group includes several age cohorts: tweens (ages 10–12), teens (13–18), and young adults (19–33). With total purchasing power of more than $733 billion, the Millennials are a huge and attractive market. 18
One thing that all the Millennials have in common is their utter fluency and comfort with digital technology. They don’t just embrace technology; it’s a way of life. The Millen- nials were the first generation to grow up in a world filled with computers, cell phones, satellite TV, iPods, and online social networks. A recent study found that 91 percent of Mil- lennials are on the Web, making up 32 percent of all U.S. Internet users. According to an- other study, 77 percent of Millennials frequent social-networking sites, and 71 percent use instant messaging. “All generations are comfortable with technology, but this is the genera- tion that’s been formed by technology,” says a Yahoo! executive. For them, “it’s not some- thing separate. It’s just something they do.” 19
Marketers of all kinds now target the Millennials segment, from automakers to political campaigns. The Millennials are bombarded with marketing messages coming at them from all directions. However, rather than having mass marketing messages pushed at them, they pre- fer to seek out information and engage in two-way brand conversations. Thus, reaching these message-saturated consumers effectively requires creative marketing approaches.
Con- sider how the Barack Obama presidential campaign succeeded in reaching this group: 20
“Barack Obama was the first presidential candidate to be marketed like a high-end con- sumer brand,” observed a Newsweek reporter. His rising-sun logo echoes the one-world
icons of PepsiCo, AT&T, and Apple. But what really set the Obama campaign apart was its immense appeal to Millennials, the country’s youngest voters. The campaign’s mastery of cutting-edge social media, such as the www.my.barackobama.com Web site, was optimized for Millennial appeal. For this generation, “the new pronoun is me, my,” says a marketing expert. “Young people want to be in control of their relationship with a brand. They want to customize and personalize.” The Obama campaign site allowed just that, with its use of tagging, dis- cussion boards, photo uploads, and other interactive elements.
In addition, Obama enlisted eight million volunteers using social- networking sites, attracted two million friends on Facebook, and drew
90 million viewers to his video presentations on YouTube. On Election Day, the Obama team sent text messages to millions of young support- ers. The Obama campaign didn’t merely use young volunteers, as most campaigns do. It created a campaign specifically designed by and for today’s tech-happy Millennial generation, using the communication tools young people rely on and trust. The result? Young people turned out at the polls in record numbers, with fully 66 percent favoring Obama, turning the tide his way in several key states.
Reaching Millennials: The Barack Obama presidential campaign’s mastery of cutting-edge social media, such as www.my.barackobama.com, was optimized for
Generational Marketing. Do marketers need to create separate prod-
Millennial appeal. It still is. You can connect with
ucts and marketing programs for each generation? Some experts warn that
“Obama everywhere.”
marketers need to be careful about turning off one generation each time
Parts
» | Marketing: Creating and Capturing Customer Value 3
» | Marketing: Creating and Capturing Customer Value 11
» | Marketing: Creating and Capturing Customer Value 13
» | Marketing: Creating and Capturing Customer Value 25
» | Marketing: Creating and Capturing Customer Value 29
» | Company and Marketing Strategy: Partnering to Build Customer Relationships 37
» | Company and Marketing Strategy: Partnering to Build Customer Relationships 41
» | Company and Marketing Strategy: Partnering to Build Customer Relationships 43
» | Company and Marketing Strategy: Partnering to Build Customer Relationships 51
» | Company and Marketing Strategy: Partnering to Build Customer Relationships 55
» | Company and Marketing Strategy: Partnering to Build Customer Relationships 57
» | Company and Marketing Strategy: Partnering to Build Customer Relationships 63
» | Analyzing the Marketing Environment 65
» | Analyzing the Marketing Environment 71
» | Analyzing the Marketing Environment 73
» | Analyzing the Marketing Environment 77
» | Analyzing the Marketing Environment 79
» | Analyzing the Marketing Environment 81
» | Analyzing the Marketing Environment 85
» | Analyzing the Marketing Environment 87
» | Analyzing the Marketing Environment 89
» | Managing Marketing Information to Gain Customer Insights 97
» | Managing Marketing Information to Gain Customer Insights 99
» | Managing Marketing Information to Gain Customer Insights 103
» | Managing Marketing Information to Gain Customer Insights 109
» | Managing Marketing Information to Gain Customer Insights 111
» | Managing Marketing Information to Gain Customer Insights 113
» | Managing Marketing Information to Gain Customer Insights 115
» | Managing Marketing Information to Gain Customer Insights 127
» | Managing Marketing Information to Gain Customer Insights 131
» | Consumer Markets and Consumer Buyer Behavior 133
» | Consumer Markets and Consumer Buyer Behavior 137
» | Consumer Markets and Consumer Buyer Behavior 141
» | Consumer Markets and Consumer Buyer Behavior 143
» | Consumer Markets and Consumer Buyer Behavior 159
» | Consumer Markets and Consumer Buyer Behavior 163
» | Business Markets and Business Buyer Behavior 165
» | Business Markets and Business Buyer Behavior 175
» | Business Markets and Business Buyer Behavior 179
» What is Eaton’s value proposition?
» | Customer-Driven Marketing Strategy: Creating Value for Target Customers 189
» | Customer-Driven Marketing Strategy: Creating Value for Target Customers 193
» | Customer-Driven Marketing Strategy: Creating Value for Target Customers 197
» | Customer-Driven Marketing Strategy: Creating Value for Target Customers 203
» | Customer-Driven Marketing Strategy: Creating Value for Target Customers 205
» | Customer-Driven Marketing Strategy: Creating Value for Target Customers 207
» | Customer-Driven Marketing Strategy: Creating Value for Target Customers 209
» | Customer-Driven Marketing Strategy: Creating Value for Target Customers 211
» | Customer-Driven Marketing Strategy: Creating Value for Target Customers 213
» | Customer-Driven Marketing Strategy: Creating Value for Target Customers 219
» | Products, Services, and Brands: Building Customer Value 223
» | Products, Services, and Brands: Building Customer Value 225
» | Products, Services, and Brands: Building Customer Value 229
» | Products, Services, and Brands: Building Customer Value 237
» | Products, Services, and Brands: Building Customer Value 245
» | Products, Services, and Brands: Building Customer Value 247
» | Products, Services, and Brands: Building Customer Value 249
» | Products, Services, and Brands: Building Customer Value 251
» | Products, Services, and Brands: Building Customer Value 257
» | New Product Development and Product Life-Cycle Strategies 259
» | New Product Development and Product Life-Cycle Strategies 271
» | New Product Development and Product Life-Cycle Strategies 273
» | New Product Development and Product Life-Cycle Strategies 279
» | New Product Development and Product Life-Cycle Strategies 281
» | Pricing: Understanding and Capturing Customer Value 289
» | Pricing: Understanding and Capturing Customer Value 291
» | Pricing: Understanding and Capturing Customer Value 295
» | Pricing: Understanding and Capturing Customer Value 299
» | Pricing: Understanding and Capturing Customer Value 305
» | Pricing: Understanding and Capturing Customer Value 307
» | Marketing Channels: Delivering Customer Value 339
» | Marketing Channels: Delivering Customer Value 347
» | Marketing Channels: Delivering Customer Value 351
» | Marketing Channels: Delivering Customer Value 367
» | Retailing and Wholesaling 373
» | Retailing and Wholesaling 377
» | Retailing and Wholesaling 379
» | Retailing and Wholesaling 393
» | Retailing and Wholesaling 395
» | Retailing and Wholesaling 397
» | Retailing and Wholesaling 401
» | Retailing and Wholesaling 405
» | Communicating Customer Value: Integrated Marketing Communications Strategy 407
» | Communicating Customer Value: Integrated Marketing Communications Strategy 411
» | Communicating Customer Value: Integrated Marketing Communications Strategy 413
» | Communicating Customer Value: Integrated Marketing Communications Strategy 415
» | Communicating Customer Value: Integrated Marketing Communications Strategy 429
» | Communicating Customer Value: Integrated Marketing Communications Strategy 433
» | Advertising and Public Relations 435
» | Advertising and Public Relations 439
» | Advertising and Public Relations 441
» | Advertising and Public Relations 443
» | Advertising and Public Relations 445
» | Advertising and Public Relations 447
» | Advertising and Public Relations 449
» | Advertising and Public Relations 453
» | Personal Selling and Sales Promotion 463
» | Personal Selling and Sales Promotion 469
» | Personal Selling and Sales Promotion 471
» | Personal Selling and Sales Promotion 481
» How is the sales force at Nestlé Waters structured? outsells its top competitors.
» | Direct and Online Marketing: Building Direct Customer Relationships 495
» | Direct and Online Marketing: Building Direct Customer Relationships 499
» | Direct and Online Marketing: Building Direct Customer Relationships 507
» | Direct and Online Marketing: Building Direct Customer Relationships 509
» | Direct and Online Marketing: Building Direct Customer Relationships 515
» | Direct and Online Marketing: Building Direct Customer Relationships 525
» | Creating Competitive Advantage 527
» | Creating Competitive Advantage 529
» | Creating Competitive Advantage 537
» | Creating Competitive Advantage 549
» | The Global Marketplace 551
» | The Global Marketplace 553
» | The Global Marketplace 561
» | The Global Marketplace 573
» | Sustainable Marketing: Social Responsibility and Ethics 581
» | Sustainable Marketing: Social Responsibility and Ethics 583
» | Sustainable Marketing: Social Responsibility and Ethics 587
» | Sustainable Marketing: Social Responsibility and Ethics 595
» | Sustainable Marketing: Social Responsibility and Ethics 603
» | Sustainable Marketing: Social Responsibility and Ethics 605
» | Marketing by the Numbers A21
» | Marketing by the Numbers A27
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