Written by one of the foremost experts on segmented marketing, this volume shows how businesses can prosper in the rapidly changing, fragmented markets of the 1990s by adopting a new, highly effective marketing strategy--the lifestyle approach. Author Chester Swenson profiles the major and emerging consumer segments, among them the 50-plus generation, women, college students, Hispanics, and African Americans, and shows how to reach these markets through precisely targeted, personalized marketing campaigns that take into account a segment's demographics, attitudes, values, interests, community activities, and affiliations.
Successful lifestyle programs introduced by major companies like Reebok, 3M, and Coca-Cola are used throughout the discussion to illustrate aspects of the lifestyle marketing strategy. Swenson also challenges conventional marketing protocols, norms, and wisdom, revealing misconceptions about specific consumer segments and identifying marketing blunders that have resulted from a failure to understand the new market realities.
Swenson begins by exploring the applications of segmented marketing to the global markets of the next decade. He describes the process of lifestyle marketing, which involves creating an affinity or emotional attraction to a particular product or service by linking it with the preferred lifestyles of potential consumers.
Frequently, Swenson shows, this is achieved through affiliations with individuals, organizations or activities that are integral to a target consumer segment. He offers tips for arranging endorsements, working with nonprofit associations in cause-related marketing campaigns, and building strategic alliances with other companies.
Each of the major market segments is discussed in depth in a separate chapter that not only provides current demographic information but also discusses their media usage, attitudes, affiliations, leisure time activities, and role models. Swenson then looks ahead to pinpoint emerging marketing opportunities offered by Asian-American consumers, military families, and active environmentalists.
Certain to become the standard source on lifestyle marketing, Swenson's work will be indispensable for advertising and marketing executives concerned about maintaining the competitive edge in an increasingly fragmented marketplace. Review: ?Swenson draws on his corporate marketing background (Security Bank, Disney, Grolier) and cites numerous examples from the work of his marketing firm to detail an extensive review of specific market segments.
After discussing the decline in mass-marketing approaches of the '50s and '60s, he argues for the lifestyle approach to each segment's 'points of commonality, ' including shared values, activities, institutions, ethnic and religious connections, heroes and models, etc. He advocates sponsoring events, getting involved in the communities, and, where possible, forming alliances and using cross-promotions.
Offering references and many specific examples, Swenson clearly details the size, lifestyle, and growth rates for secure adults (over 55), women, college students, Hispanics, and African Americans and offers insights on how to reach these segments effectively. Additional chapters focus on marketing through sports, on emerging market segments including Asian Americans, the military, and the Greens (environmentalists). and on regional marketing.
A useful addition to academic and professional business collections.?-Choice
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