MKT 500 WEEK 3 DISCUSSION - 84718

Solution Posted by
olufunmilola

olufunmilola

Rating : (9)A+
Solution Detail
Price: $14.00
  • From: Business, Marketing
  • Posted on: Fri 02 Jan, 2015
  • Request id: None
  • Purchased: 1 time(s)
  • Average Rating: (100) A+
Request Description
Targeting Segments and Brand Positioning Statements" Please respond to the following: • From the e-Activity, break down the segmentation variables used for Baby Boomers versus Gen Nester. Compare the major differences and recommend one (1) new and unique variable for each segment. Provide a rationale for your response. • Imagine that you are a direct competitor of Twitter and your company’s name is Bitter. Create a brand positioning statement that addresses the benefits of why customers should use your company instead of Twitter. Provide a rationale for your response. NOTE: THREE DIFFERENT ANSWER POSTED AS A BONUS JUST CHOOSE ONE
Solution Description

From the e-Activity, break down the segmentation variables used for Baby Boomers versus Gen Nester. Compare the major differences and recommend one (1) new and unique variable for each segment. Provide a rationale for your response.

            Change is always around us and we need to keep current with the times or get left behind. Segmentation variables basically is the same for all generations (demographics, geographic, life style, and behavior). However, the way each generation looks at things or what interest them are different in the sense of not doing it like my parents did it. Innovations and technology has change the world in the way information is received or the availability to reach the consumers. Product are more ready available and the purchasing power has increase since the baby boomer era. Gen nester tend to be more credit trusting or do it yourself projects the those before this generation. Our parents learn to save money and live more within their means compared to post baby boomers. Gen nester tends to be more educated, ethnically diverse, eco-conscious, and consummate consumers compared to my age group. We were taught to work hard and save money for a raining day. I guess some may call it "evolution or changing of the guard" but each generation goes through the same process and a lot of it depends on what is happen (technology) in the world. So, is gen nester more risk takers? I think not but they sure have a different way of thinking than what I was taught which is not a bad thing.

Recommendations:

            Demographics - more diverse culture located in countries (varying interest).

            Geographic - better means of communication (social media and location).

            Life Style - more tend to be in active status (excising, health conscious, and free spirited). 

            Behavior - not worried in the little stuff compared to the latest trend (technology).

As technology changes so will all the above categories as it continues to keep up with current marketing methods and ways for the information to be received. So years from now, when the Gen Nester (X, Y, and Z) reaches the age like the baby boomers, the times and/or methods will take the next step in our lives.

References:

http://www.cengage.com/marketing/book_content/9781133190608_iacobucci/videos/ch04.html

http://changingminds.org/disciplines/marketing/understanding_markets/consumer_segmentation_variables.ht

Attachments
WEEK_3.docx
WEEK_3.docx