chapter 4 demographics and social stratification text ... · chapter 4 demographics and social...
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Chapter 4Demographics and Social Stratification
Text: Consumer Behavior; Hawkins, Mothersbaugh and Best; 10th ed.
Can you guess which generation is the highest prescription drug use? Mature market Generation x Generation y Millenials
Can you guess what percent in each generation is on at least one prescription drug?
Demographics and Social Stratification
Population and Size Occupation Education Income Age
Understanding American GenerationsUnderstanding American Generations
A Generation Generation or age cohort age cohort is a group of persons who have experienced a common social, political, historical, and economic environment.
Cohort analysisCohort analysis is the process of describing and explaining the attitudes, values and behaviors of an age group as well as predicting its future attitudes, values, and behaviors.
PrePre--DepressionDepression
DepressionDepression
Baby BoomBaby Boom
Generation XGeneration X
Generation YGeneration Y
MillennialsMillennials
Understanding American GenerationsUnderstanding American Generations
Mature MarketMature Market
4-6
Understanding American GenerationsUnderstanding American GenerationsHow to Target the Mature Market
Gerontographics has identified the following four segments of the mature market:
- Healthy IndulgersHealthy Indulgers (7 million, rapidly growing)- Ailing OutgoersAiling Outgoers (18 million)- Health HermitsHealth Hermits (20 million)- Frail Recluses (18 million)
Understanding American GenerationsUnderstanding American Generations
Compared to prior generations, Boomers are:
Higher income, higher education
More tech savvy
Defining retirement differently
Boomers also are:
Strong market for “anti-aging” products, travel, and financial services
Often alienated by overly “youth oriented” appeals in ads
Baby Boom Generation: A Closer LookBaby Boom Generation: A Closer Look
Understanding American GenerationsUnderstanding American Generations
Beyond the stereotype:
Stereotype – Xers as disenfranchised youth
Reality 1– Xers are more highly educated than previous generations
Reality 2– Xer women are more highly educated than Xer men
Reality 3– Xers are getting married, having families and facing the time pressures associated with these events
Reality 4– Reaching Xers requires special attention to media, particularly online
Generation Xers: A Closer LookGeneration Xers: A Closer Look
Understanding American GenerationsUnderstanding American Generations
Interesting Facts About Gen Y:
Really Two Sub-Markets: Twenty-somethings and Teens
Expected to have the highest education of previous generations with incomes to follow
Very tech savvy with media options including Internet, cell phones, and video games
A strong market for edgy and affordable products
Generation Yers: A Closer LookGeneration Yers: A Closer Look
Social Stratification Social Rank Social Class system
Social Structure in the United StatesSocial Structure in the United States
Social Standing is Derived and Influences BehaviorSocial Standing is Derived and Influences Behavior
American Social Classes Upper-Upper Class Lower Upper Class Upper Middle Class Middle Americans
Middle Class Working Class
Lower Americans Upper-Lower Class Lower-Lower Class
The Measurement of Social Class Two Basic Approaches:
Single item Index Multi-item Index
Marketing Strategy Considerations Should the marketer use
an overall measure of social status or a demographic variable?
A product or brand may have different meanings for different social strata.
Different purchase motivations for the same product may exist between social strata.