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Is Consumer Behavior More a Function of a Person's Age or Generation?

Created by : Parul Chaturvedi, Manager-Business Development & Client Servicing, Pinnacle Technology  | 02 01 2011 14:53:42 +0000
Industry : Advertising/PR/MR/Events
Keywords : is consumer behavior more a function of a person's age or generation?
Activity:  1143 views;  last activity : 02 13 2011 15:39:56 +0000
 
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Age differences are more important than cohort effect Vs Cohort effects can dominate age differences
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I believe that the age difference plays a very important role in consumer behaviour. With age an individuals needs and his/her mentality changes. Thus we need to serve customers are per the needs according to their age.
By Jayant Vishnu, Art Director/Sr Art Director, Creative  02 03 2011 05:35:42 +0000
 
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In fact age and imitations are the two sides of the same coin. Like Financial profesionals prefering pin-stripes or blue and white which is imitation, when old age buyers prefer more conservative or sometimes lite shades. Consumer behavior manifested as buyer preferences depends on 'aspirations of the buyer' and some times 'value proposition'. Former is 'emotional' where as the latter depends on 'income criterion'. A marketer need to understand the buyer preferences when desinging his products and the market he serves.

Values can be emotional too.
By Mathew Cherian, Research Associate/Analyst, Western Michigan University  02 03 2011 18:23:18 +0000
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OF COURSE, AGE DOES MATTER.

THANKS FOR REFERRAL.


By Sairam. M, System Administrator  | 08 16 2011 19:30:31 +0000
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Absolutely and agree with Jayant. It is the age that matters the most. As with age your desires keep changing and so does the thirst for products. Thats why marketing is dynamic - it keeps changing on a periodical basis. There are no set methods of marketing a product, one has to analyse its sales among different age groups and then devise on a plan to market the same.
By Jaygopal Raghavan, Marketing Manager, Landmark Group  | 02 13 2011 15:39:56 +0000
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Yes your views are correct Mr.Jayant Vishnu Ji.
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 02 05 2011 19:06:13 +0000
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Age, always matters!
By SHRIKANT MANOHAR DANKE, Project Manager, Phadnis Infrastructur Ltd  | 02 03 2011 11:40:29 +0000
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its age difference that holds more importance than cohort effect@!
By Jasmin Pawar, HR Manager, HR GLOBE CONSULTING  | 02 03 2011 07:01:02 +0000
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Aging forces an individual to be prudent, conservative, and selection or purchase of items purely based upon utility point of view. Therefore, age difference plays a crucial role in consumer behaviour!
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  | 02 03 2011 06:12:49 +0000
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The choice of consumer is more important. people of all ages still like old melody/romantic songs of 60's /70's.
By AOUCHITYA KUMAR, trainee FEA softwaresin MSC.Nastran/Patran,automobile/mechanical engineer.  | 02 08 2011 06:52:08 +0000
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the value for money does not change over the ages...... however the dynamics of purchases do undergo changes , the influencing factor dominates age
By Ganesh Ramaswamy, Area Sales Manager - Mortgages, Bajaj Finance Limited  | 02 05 2011 02:08:40 +0000
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It also depends on what sorts of goods you market. There can be consumer goods, speciality goods, impulsive goods like candys which come under durables and non durables. Then there are services like hair dressing, banking, cellular networks etc;.

 
By Mathew Cherian, Research Associate/Analyst, Western Michigan University  | 02 03 2011 18:30:29 +0000
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