This video examines the impact of dimensions such as age, ethnicity, and religion on brand preferences.
- A subculture is a group whose members share significant beliefs and common preferences. Some of the most influential subcultures are ethnic groups and age. The rapidly growing diversity of US culture is one of the most important drivers of change in this century. The US Census Bureau projects that in 2018 it won't be possible to place a majority of children younger than the age of 18 into a single racial or ethnic group.
Over the next 45 years the Bureau expects the Hispanic population to more than double. By 2060 almost one in three Americans will identify as Hispanic. The Asian population will double during the same time period. Furthermore, traditional subcultural categories are breaking down. Among US children the multiracial population has increased almost 50% since 2000, making it the fastest growing youth group in the country.
Our country truly is a melting pot of people who belong to many different racial and ethnic subcultures. In particular, the increasing importance of the Hispanic-American subculture illustrates why it's important for mainstream companies to expand their horizons and proactively develop products for this market. For example, K-Mart sells a celebrity line for Hispanic women called Sofia, by Sofia Vergara, named for the star of the popular television show, Modern Family.
While Kohl's offers a clothing line with Jennifer Lopez. In some ways this growing segment also resembles our idealized concept of 1950s America. On average Hispanic consumers are young. Their median age is about where the whole nation was in 1955. And they more often live in large, traditional married with children families where grandparents log a lot of time.
They're increasingly moving to the suburbs, they tend to be community oriented, and they have high aspirations for their children. Of course, there are many other important subcultures. For example, age is really important. We tend to identify with others who are about the same age because we've experienced many of the same cultural events. Consumers of different ages value different messages as well.
So for example, these younger consumers are likely to value brands that are socially responsible and authentic. Unlike their parents, they want to know exactly who is behind what they buy and what they stand for. In contrast, seniors, a hugely important but often overlooked age subculture, are more likely to value brands that stress independence and self fulfillment.
Although it's tempting to go after young, hip customers, don't assume that this target is right for you. Unless you're selling nose rings it's quite possible your products or services will appeal to relatively older people who are eager to buy. Know who you're talking to and what they value before you ask members of a specific subculture for their business.
First, learn the importance of consumer behavior in helping us understand when, why, and how purchasing decisions are made. Michael shares how factors such as color, shape, and sound influence our perception of brands and products. He discusses gender identity and products geared towards different genders, as well as how consumer lifestyles, values, and attitudes affect product preferences. Michael also goes into external influences on consumer behavior, covering how groups make decisions and how ideas spread. Finally, Michael explores the role emotion plays in purchase decisions, and how you can structure messages to maximize persuasion.
- Sensory marketing as a strategic tool
- How gender identity can affect product choice
- Personality and brand image
- Decision-making in groups
- Retailing as theater
- How ideas spread through the market
- Persuasive communications
- Influencing consumer behavior