Sp25 Mktg361 Week 6 segmentation and personas

Generational Alpha

The generation born from 2010 to current, characterized by being the first to be raised entirely in the 21st century.

Generation Z

The generation born from 1995 to 2009, known for being digital natives and socially conscious.

Millennials

Individuals born between 1980 and 1994, often depicted as valuing individuality and experiences over material possessions.

Generation X

The generation born from 1965 to 1980, characterized by a balance between work and life and known for their adaptability.

Baby Boomers

The generation born from 1946 to 1964, often associated with a strong work ethic and economic prosperity.

Silent Generation

Individuals born from 1928 to 1945, known for their traditional values and loyalty to institutions.

Ethnic Diversity in Generations

A significant trait of younger populations (under 43) with about 50% of Gen Z and Alphas being non-white.

Buyer Persona

A fictional representation of the target market for a product or service, based on research and data.

Psychographics

The study of consumer preferences based on values, beliefs, lifestyles, and motivations that drive behavior.

Millennials' Spending Behavior

Millennials prioritize experiences, often spending on travel and activities, while also facing financial concerns.

Generation Z's Shopping Preferences

This generation prefers online shopping, values social consciousness, and seeks authentic brand relationships.

Attitudinal Segmentation

Dividing the market based on consumer attitudes towards products, brands, or experiences.

Life Stage Segmentation

Segmenting consumers based on their current life stage, such as young singles, families, or retirees.

Social Media Engagement by Generation

Younger generations, particularly Gen Z and Millennials, are highly engaged with social media compared to older generations.

Experiential Consumption

A trend where consumers, especially younger generations, prioritize experiences and emotional connections over material goods.

What percentage of Gen Z and Alpha are non-white?

About 50%of Gen Z and nearly 50% of Generation Alpha are non-white.

What key traits define Generation Alpha?

Technology-savvy, social issue awareness, parental purchase influence, personalization preference, future-focused careers

What is the estimated spending power of Generation Alpha?

$140 billion directly, $300 billion through parental influence

What are the key psychographics of Gen Z?

Individualism, authenticity, digital nativity, social responsibility, financial pragmatism, adaptability

What is Gen Z’s average attention span for advertisements?

1.3 seconds

Why is Gen Z rethinking higher education?

Rising costs and questioning financial return on investment

What are the core values of Millennials?

Authority, achievement, influence

What myths about Millennials are debunked?

Not self-obsessed, delayed homeownership, take jobs seriously, largest workforce

What is Gen X known for?

Pragmatic consumers balancing career, family, and retirement

What percentage of wealth/assets do Baby Boomers control?

$156 trillion, mostly in real estate

What does attitudinal segmentation consider beyond demographics?

Attitudes, values, and behaviors

Which generations dominate social media use?

Gen Z and Millennials

What is a persona in marketing?

A representation of an ideal customer based on research and insights

What are the benefits of personas?

Strategic clarity, consumer voice, segmentation, content personalization

How do personas benefit advertising?

Tailored messaging, precision targeting, increased engagement and loyalty

What are key elements of a persona?

Demographics, goals, values, motivations, frustrations, influencers, shopping behaviors

Example: What are the key traits of ‘Stacey, The Cost-Sensitive College Student’?

Loves quality coffee, seeks deals, active on social media

Example: What defines ‘Jill, The Frequent Flying Regional Director’

Prioritizes travel convenience, frustrated by booking process

What is the goal of the self-persona exercise?

To create a persona based on personal characteristics for a product

What are the key takeaways from Week 6?

Segmentation is evolving, personas humanize data, psychographics and behavior are crucial, social media impacts consumer behavior