MARKETING DEBATEIs Consumer Behavior More of a Function of a Persons Age or Generation?

Take a position: Age differences are fundamentally more important than cohort effects Versus cohort effects can dominate age differences. MY OPINION: -

Age and cohorts are more important than age differences. People still pass through life as part of a group and experience the newness of life through cohort experiences and relate to others within their identifiable group. Marketing to cohorts extends the ability of the marketer to capitalize on share emotions, experiences, trends, and fads that have or had made lasting impressions on the cohort. Technology has changed so much in the last few decades and has influenced subsequent generations about expectations and potential, that one must market to the cohorts in order to identify with their experiences. People within a particular cohort seek information for purchase decisions from influencers within their cohort. Marketers must identify these influencers and tailor messages that affect their review of products and gain favor with them. Age is one of the most important demographic factor which constitutes in the buying and consumption pattern Generation advancement are a result of age differences so obviously the age factor indirectly comes into consideration. For example: Levis jeans marketing strategy is mainly for the youth and trendy class for the young generation but it is not focused to the old aged group. The product is marketed keeping in focus of the age group of the young generation. Similarly many food products which are targeted for the youth age group cant be targeted for the old age group. It has been the practice of marketers to target and position the product according to the person's age because a product which is liked and preferred by one age group can't be preferred by another age group due to advanced technology, product knowledge and advancement in technology which might not be available in the previous generation. Lastly generation itself takes into consideration of the age factor...so no doubt consumption and buying pattern depends upon person's age groups.

Marketing plan Contents

Executive Summary Introduction Objectives of the Marketing Plan (remember to make them SMART!) Mission Statement for the organisation Company Description Background of the organisation The environments that impact on the organisation o Technology o Government regulations o Legal Changes o Social / Cultural Changes o Climate o Other? Major Marketing Problem / issues Competitor Analysis Competitive Advantage of the organisation Target Market Segments Recommendations for Product Recommendations for Price Recommendations for Promotion Recommendations for Place / Distribution