Home » Consumer » Consumer Behavior

What Drives Consumer Behavior?

Source: www.uwex.edu
Topic: Consumer Behavior

Sort Desciption: What Drives Consumer Behavior? Preferences of Age Groups. Article Summary by Erika Rence. Purchasing habits fluctuate over time with every ...

Content Inside: Issue 116 April 2006 What Drives Consumer Behavior? Preferences of Age Groups Article Summary by Erika Rence Purchasing habits fluctuate over time with every generation but because of increased access to new technology and uncertainty due to world events and insecure futures the consumer trends of generations have changed. In order for businesses to appeal to these consumers it is important to understand what these buying habits are how they have changed and what techniques can be utilized to expand sales among five consumer segments. A recent article from American Demographics Advertising Age highlights these changing behaviors. Birth -12 years old It is no longer just colorful toys that attract this consumer segment as it is no longer possible to lump sub-teens together under the same marketing roof. Because of the changing tastes of these sub-teens towards consumer electronics and fashion goodies marketing for this age group has now been split into four distinct under-13 segments: newborns-to-3-year-olds 3-to-5-year olds 5- to-8-year-olds and 8-to-12-year-olds. In the wake of the September 11 tragedy children are leading more protected lives that include more organized activities and closer parental supervision. Relationships with parents have also changed within this market segment in that parents are maintaining friendships with their kids instead of a gatekeeper role; therefore stores can market products to children and parents at the same time by selling products that both segments can enjoy together. Today children within this market segment also differ from their predecessors in that they are technically empowered. They have grown up in a world with ready access to multifunctional gaming consoles and Internet connections. Due to this empowerment at such an early age they could well evolve into the most progressive and/or demanding generation of consumers. When marketing for this consumer segment it is important to focus on these new media prefer ...