Chapter 3 Flashcards
Demographic Characteristics
Demography is the study of age, race, ethnicity and location.
These characteristics is strongly related to consumer behaviour and are accurate predictors of how the target market will respond to a specific marketing mix.
Individual aspects as well as household aspects
Individual Aspects
Population Age distribution of the population Physical distribution of the population Education and Literacy levels Labour Market Unemployment Formal and informal sectors
Household aspects
Housing Water Resources Energy Sources Telephones Health care Household Income
Other market characteristics
These other market characteristics economic governmental physical societal technological
These are visible in our everyday lives, and the volatility of these variables forms part of what makes a country, such as South Africa, so interesting.
These market factors provide both opportunities and threats to marketers, and it is important that a marketer is up to date both with what is happening and what the future trends for these factors will be.
The above-mentioned statement relating to opportunities and threats is important because marketers have to be prepared and plan for future upcoming trends as and when they happen.
Developing Trends that influence consumer behaviour
Green Marketing Cause Related Marketing Marketing to Gay and Lesbian Consumers Gender-based Marketing Black Diamonds
Green Marketing
Owing to our growing concern for the environment, marketers established green marketing. This involves:
Developing and manufacturing products whose production use or disposal is less harmful to the environment than the traditional versions of the products.
Producing products that have a more favourable impact on the environment.
Linking the purchase of a product to a environmental organisation or event.
Cause Related Marketing
Is the activity whereby a company links the sale of its products to an issue or a cause.
Companies encage in Cause Related Marketing to improve their sales and corporate image, while providing benefits for the cause.
This can also be an effort to create long term relationships with their customers, thereby building greater corporate and brand equity with the intention of obtaining more sales.
Through Cause Related Marketing companies aim to address consumers value and aims to encourage consumers to take action that will help solve the cause.
Benefits are purely and primarily emotional in nature, marketers strive to encourage individuals to change their beliefs or behaviour, or buy products and services because “its the right thing to do” causing them to “feel better about themselves”
Marketing to Gay and Lesbian Consumers
There is a trend in society to valuing diversity.
Gays and lesbians belongs to different ethnic groups, live in different regions, different occupations and age. These factors amongst others influence what they buy and when and where they make their purchase, and have a far greater impact on their consumption patterns than their sexual orientation.
- Is it necessary that we modify our products to meet their needs?
Should we use the standard advertisement in gay orientated media or should the advertisements be adapted to incorporate lesbian guy theme?
To what degree should we participate in gay and lesbian related activities?
Should our major media advertisements include advertisements with gay themes?
Gender-based Marketing
Gender roles have changed dramatically over the last few years. More women are participating the working environment and are experiencing increase wealth and purchasing power.
Today women have a variety of role options and display a range of attitudes concerning their gender. when advertising to women companies are faced with marketing related aspects to keep in mind:
Market segmentation the female market can be segmented into 4 groups- traditional housewife, trapped housewife, trapped working women, career driven working women
Regarding the product strategy, many products are losing their gender typecasting and as a result, many typical male products are designed with women in mind.
Consider Marketing communications, male and female users respond differently to marketing communication messages and consume different types of media.
In terms of retail strategy, it is evident males and females respond differently to the retail environment and today more males are doing the shopping.
Black Diamonds
A uniquely South african development influencing the consumer behaviour is the rise of the black diamond.
As SA’s fastest growing affluent black community, the Black Diamonds are exciting, savvy, influential and up-and-coming individuals who are driven to success.
Includes:
Mzansi youth who are still living at home and studying
Start me ups who are just entering the market place
Young families with children
Established older, wealthier families
Recognising the potential that the Black Diamonds hold as a target market, more and more companies are exploring possible opportunities to capture this segment.
