Consumer Behaviour by Molly Mckenzie

400918621 — 2021-01-29 16:02:14 UTC

There are 14.3 million baby boomers in the UK (2019), equating to 21.3% of the UK population. They are the wealthiest generation in the UK, 65+ own 36% of household wealth. 92% of boomer shop online, spending over an hour a day on social media sites such as Facebook.

Spending power

400918621 — 2021-01-29 16:05:43 UTC

Boomers have the greatest amount of disposable income compared to all other generations.
"According to a study conducted by Visa, by 2020 there will be 11 million more consumers over age 60, while the share of spending among younger consumers is expected to decline over the next 10 years."

400918621 — 2021-01-29 16:19:22 UTC

The average UK consumer is living longer. The values differ within the generation depending on income and financial situation.

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Topman Target Customer

400918621 — 2021-02-03 11:52:35 UTC

28.02.21
As part of our second seminar, in groups of 4, we were asked to research and analyse one of Topman's main consumers. My group and I were given the task of dissecting the lives and minds of the 16 year old Topman customer. Through our collective research we created and presented a 6 - page slide, detailing the interests, influences and spending power of a 16 year old boy in today's current climate. We were able to recognize some key elements that Topman could introduce into their marketing and communications with said customer, which would benefit the companies profit and ultimately sales.

Maslow's Theory in marketing - Nike ad

400918621 — 2021-02-05 20:21:49 UTC

05.02.21
I was set the task of researching adverts that used Maslow's theory for marketing purposes. I believe that Nike are a perfect example of a company that use this human needs theory in all of their forms of marketing. This particular advert I have chosen covers both psychological/esteem needs and self-fulfilment/self actualization needs from Maslow's theory. This advert targets the 'underdog' however with the emotive language and overall theme of the advertisement, it could undoubtedly resonate with anybody. Nike had previously been associated with elite athletes, sportsman etc. This campaign was a the brand trying to detach themself from such a limiting label and attempt to appeal to and communicate to a larger demographic. I believe they were successful in their endeavour.

400918621 — 2021-02-10 13:46:45 UTC

Current business strategies
To support the business through the challenges Covid – 19 presented, the brand installed a new business strategy, to identify and target the areas of the business that were affected by changes in customer shopping habits. This report from 2020 highlights some of the actions taken in response to the virus, including:
Supporting customers
Customers who were having to isolate, or shield were supported by the launch of the online Food Box. The food box included fresh produce, meat and vegetables, ready meals, and food cupboard essentials. These boxes were targeted at the brands older consumer – 70+ who they identified through the spark’s loyalty card. However, it was expeditiously rolled out to all M&S consumers.

Supporting the NHS
A collection of T-shirts were created by the M&S design team, available for all age ranges and priced at 20p with all profits going to the combined – NHS Charities Together. The range was launched by brand ambassador Holly Willoughby, further promoted by fellow ambassador Amanda Holden. This campaign was one close to the heart of the Boomers, as health care and the NHS are highly valued by this generation.

Never The Same Again

400918621 — 2021-02-10 14:35:21 UTC

The company have proposed a new brand promise - Never The Same Again. The new programme will see a turn over of the previous retail management structure, providing opportunity for sales staff to be more customer focused than before.

Sustainability

400918621 — 2021-02-10 14:39:53 UTC

A recent study (2020) by Global Data, shows that consumers rated Marks and Spencer as one of the most sustainable retailers.

Customer Loyalty Scheme

400918621 — 2021-02-13 12:39:49 UTC

In 2020, the company re-launched their 'sparks' card. A customer loyalty scheme, much like the successful Boots points card. This gives members continuous benefits and rewards.

M&S and Boomers - Marketing strategies

400918621 — 2021-02-13 15:19:13 UTC

Examples of how the company currently communicate to boomers. (Examples taken from the marks and spencers app).
The business uses retention marketing strategies such as email marketing to track and communicate with the Baby boomer. Offering exclusive offers and rewards in an attempt to make the consumer return.

The loyalty card is a personalisation/ retention marketing scheme? that gives the card holder discounts on items they have previously purchased, and or similar alternatives.
In the set up process, the consumer is given the option of choosing one of the partnered charities the brand work with, which Marks And Spencer will donate to on behalf of the consumer each time they shop.

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John Lewis

400918621 — 2021-02-13 15:54:42 UTC

Example of how the competitor brand markets to Boomers. Below are their most recent marketing campaigns that the brand has used to communicate with this generation.

Maslow's hierarchy of needs

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Beauty board

400918621 — 2021-02-21 13:45:10 UTC

15.02.21
As part of my seminar I was asked to join a group of 5 other students to create a 'beauty board'. We researched the current beauty trends, what has been popular in lockdown and what is forecasted to be a trend in the upcoming year. It was insightful to dissect the individual items. There were many that we believed only to be popular due to the current pandemic, such as at home spa tools, press-on nails and DIY hair dye kits. The current climate is drastically changing the way we consume, it will be intriguing to see if this new wave of trends sticks when current restrictions are lifted.

Consumer behaviour survey

400918621 — 2021-02-21 15:45:53 UTC

20/02/21

Sources looked at but not used in final report.

400918621 — 2021-02-24 18:30:48 UTC

https://muruleadership.com/wp-content/uploads/2019/10/Client-logo-Sainsbury.gif

https://d3dh6of9cnaq4t.cloudfront.net/Pictures/480xAny/6/1/7/11617_britboxlogo_813772.jpg

https://api.softwarekeep.com/media/nimbus/helpcenter/Microsoft-Outlook-Logo_1.jpg

https://wpa.historybyday.com/wp-content/uploads/sites/9/2019/10/babyboomers07_.jpg

https://www.precor.com/sites/default/files/baby%20boomers.jpg

https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.aviva.com%2Fnewsroom%2Fmultimedia%2F&psig=AOvVaw0UWtnuNopyr9ETjXv_d63J&ust=1614778541600000&source=images&cd=vfe&ved=0CA0QjhxqFwoTCKiU1v3cke8CFQAAAAAdAAAAABAR

https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.drivek.co.uk%2Fkia%2Fniro%2F&psig=AOvVaw3vUDu-yRuu1n_CA0x3jQNv&ust=1614781583774000&source=images&cd=vfe&ved=0CA0QjhxqFwoTCPiF3rDoke8CFQAAAAAdAAAAABAD

https://www.google.com/url?sa=i&url=https%3A%2F%2Flloydspharmacy.com%2Fpages%2Fstore-locator&psig=AOvVaw1v6eMfc5E2nmqlLrUVSF-k&ust=1614781772440000&source=images&cd=vfe&ved=0CA0QjhxqFwoTCIDN5ovpke8CFQAAAAAdAAAAABAD

https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.thejakartapost.com%2Flife%2F2019%2F08%2F17%2Fyou-can-still-sense-the-love-baby-boomers-revel-at-woodstock-50-years-on.html&psig=AOvVaw2UsdS9-3IGXULWo8IO31Cx&ust=1614781975906000&source=images&cd=vfe&ved=0CA0QjhxqFwoTCPCj_u7pke8CFQAAAAAdAAAAABAD

https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.amazon.co.uk%2FDell-Latitude-5480-14-Inch-Laptop%2Fdp%2FB06WVN7YQV&psig=AOvVaw1ekyZrhCK7LvAbz7OxbiJY&ust=1614782161474000&source=images&cd=vfe&ved=0CA0QjhxqFwoTCODr4rrqke8CFQAAAAAdAAAAABAE
https://www.handtec.co.uk/products/apple-iphone-7-32gb-matte-black-unlocked-refurbished?variant=12911735078973&cmp_id=10500753296&adg_id=105381039498&kwd=&device=c&gclid=Cj0KCQiA4feBBhC9ARIsABp_nbXUNSjLfi8fHIFc8b8OrsvOSbFqrQGGbQ_GW7rCRktS38wN0WjQ3iMaAoqKEALw_wcB
https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.eatyourbooks.com%2Fmagazines%2Fwaitrose%2F2&psig=AOvVaw0eN1mjM282_zPMbZ5DQonJ&ust=1614788685181000&source=images&cd=vfe&ved=0CA0QjhxqFwoTCPDFg-SCku8CFQAAAAAdAAAAABAD

VALS Framework

400918621 — 2021-02-26 12:04:41 UTC

25/02/21
We looked at the EKB theory and VALS Framework. Discussing how and why these are essential for businesses to gain more knowledge about their consumer and ultimately create a deeper personalised customer experience. You must know your consumer, in terms of psychographics and demographics in order to achieve this. The VALS Framework/ EKB theory achieves this.

Customer Journey Map

400918621 — 2021-02-26 12:08:26 UTC

22/02/21
Strategic approach to personalised marketing, ensuring that the customers needs are catered for. Important for many reasons, including - following the customers true experience of a store/online business, thus seeing it from the customer's point of view. Giving brands the opportunity to rectify any 'cracks' and prevent any loss of sales.

Pin Portrait - Generation Z

400918621 — 2021-03-02 13:21:05 UTC

01/03/21 - Seminar work
Pin portrait, also known as a customer avatar is a summary of a businesses target customer. It provides details on their psychographics and demographics, their purchasing habits and their marketing preferences.
In groups we were assigned different generations to complete profiles for, the generation I was given was Generation Z. From creating a pin portrait I established that this is a tool enabling businesses to collate relevant, wide spread information about a particular consumer. This information is presented in one place, where the business can then build a personalised marketing campaign, tailored to the targeted consumer.

400918621 — 2021-03-03 13:42:28 UTC

25/02/21
This consumer board portrays the demographic, psychographic and geographic factors of the Baby Boomer generation. Also including the alternative brands they use frequently.

VALS Framework

400918621 — 2021-03-03 14:37:31 UTC

Market research

· Qualitative – Thoughts, feelings, focusing on opinions & attitudes of consumer.
· Quantitative – Facts & figures – analyze statistically: e.g. knowing bestselling size in a style.

VALS

Values

Attitude

Lifestyles

Invented by Arnold Mitchell in 70’s.

VALS method – psychographic market segmentation.

Better segment consumers & offers in stores.

400918621 — 2021-03-19 20:20:05 UTC

47% rise in Boomers digital spending and their social media continues to increase. 75% have a Facebook account. An alarming 15% of online images feature people aged 50+, according to a AARP survey (2019) Creating positive online content that accurately depicts the older consumers behaviours and personalities will help Boomers feel included and represented.

Trading Report - January 2021 (Global Data)

400918621 — 2021-03-23 13:36:37 UTC

M&S food division had a successful turn over, whilst the clothing and homeware sector suffered a significant loss. This is due to non-essential retail being closed with the national lockdowns - March 2020, November 2020. The company need to adapt with the changes and needs of its consumer.

400918621 — 2021-03-23 13:49:47 UTC

The business uses retention marketing strategies such as email marketing to track and communicate with the Baby boomer. Offering exclusive offers and rewards in an attempt to make the consumer return.

Personalisation

400918621 — 2021-03-23 14:31:07 UTC

8/03/21
As part of this seminar, I was assigned a breakout room where as a group we researched the brand Marks and Spencer, and how they personalise their brand to each consumer segment.

Personalisation - Sainsbury's

400918621 — 2021-03-23 14:35:44 UTC

15/03/21
In this seminar we looked at the deep personalisation tools that brands use towards their consumer. I was able to use this information as part of my research, comparing how M&S competitor Sainsbury's uses customer personalisation, and how that differs to my chosen brand.

400918621 — 2021-03-24 13:11:26 UTC

Marks and Spencer - Marks in time.

400918621 — 2021-03-25 08:16:36 UTC

The history of Marks & Spencer.
Customer perception.
Brand identity.

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How the brand has changed over the years.
Previous marketing campaigns.

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Learning Outcomes for the assignment.

400918621 — 2021-07-15 13:56:39 UTC

Through researching data analysis websites, retail industry reports and theories such as Kotler & Armstrong, I will product a report on the importance of brand to customer personalisation, for commercial success.

400918621 — 2021-07-15 14:25:21 UTC

Acorn.caci.co.uk. 2021. Acorn - The smarter consumer classification | CACI. [online] Available at: [Accessed 30 February 2021]. [Accessed 10 February 2021].

Fish, I. and Fish, I., 2021. M&S hires Fiona Lambert as MD of Jaeger. [online] Drapers. Available at:

Miva Blog. 2021. What You Don’t Know About Baby Boomers’ eCommerce Habits. [online] Available at: [Accessed 15 February 2021]. Marksandspencer.com. 2021. Welcome to Marks & Spencer. [online] Available at: [Accessed 10 March 2021].

Ons.gov.uk. 2021. UK population pyramid interactive - Office for National Statistics. [online] Available at: [Accessed 1 March 2021]. Padlet-uploads.storage.googleapis.com. 2021. [online] Available at: [Accessed 5 February 2021].

Smart Insights. 2021. Baby boomer marketing statistics | Smart Insights. [online] Available at: [Accessed 19 March 2021].