IBM 301 Lecture Notes - Lecture 4: Millennials, Baby Boomers, Asian Americans
25 Feb 2019
School
Department
Course
Professor
Document Summary
A defined group most likely to buy a product. The practice of choosing goods and services that meet one"s diverse needs and interests rather than conforming to a single, traditional lifestyle. Social networking has changed the game when it comes to opinion sharing. Now, consumers can reach many people at once with their views and can respond to brands and events in real time. Teenagers and young adults are more likely to view social networks as a valuable source of information. A starting point for a firm using social media is to monitor what is being said about the brand. In addition to monitoring, the firm must respond to both positive and negative buzz about the company or brand. Social media can also be used to amplify a promotional campaign by inviting consumers to join the conversation about a brand. People are the basis for any market. Demographic cohorts have their own needs, values, and consumption patterns.
