Youth market
usually the entry market (mainly in car markets)
Strategically the most important segment
Especially for building long term customer loyalty
Habit is formed when one is young
Strategy:
Dream building/challenge/participation — Giving incencentive
Experience — Fast culture
Speed — Fast fashion
Silver market
Average age of the world is increasing, life expectancy is longer
TONK (two only no kids)
OPAL (old people with active life)
Designers can approach this through Universal Design (designing for everyone)
i.e. OXO Good Grip (designer made it for his wife who was suffering from arthritis)
Isetan departmental store has a Funeral service departmental for the Silver market
Kids market
World population growth is decreasing rapidly
Parents end up having either 1 or no kid
With 1 kid, they spoil the kid with everything!
Microtrends
Gold Miss market — Financial independent women who pass the marriageable age and choose to be single
Single families is over 4 million
Supermarkets sell items in smaller quantities
Marketing Strategies in Korea (considering the cultural factors)
Gurantee Marketing (tackling Korean's attitude of risk aversion)
DIY, warranty services, participatory strategies, i.e. delivery companies offering tracking services
Opinion Leadership Marketing (tackling Korean's attitude of Collectivism)
> a.k.a Word of Mouth communication or Buzz marketing
> i.e P&G has a 'tremor' group who are a prosumer group that leads the market for their products. Products are often tested on the 'tremor' group before officially rolling out
> Viral Marketing
> "Word-of-Mouse" communication
Kiehl relies solely on word-of-mouth to market their products. Product packaging often lack design, implying that the money saved on advertising and design is channeled to be used on charitable causes.
Social media platform
Blog marketing — Alpha bloggers / Power bloggers
Emotional Culture > Experiential/Emotional Marketing
No comments:
Post a Comment