For my blog evaluation, I chose to focus on a blog from trendwatching.com. The blog I focused on is entitle “Generation G.” I chose this particular blog because it covers one of my personal favorite topics: social responsibility in corporations and corporations giving back to their employees and consumers as well. In fact, the “G” of the title “Generation G” is meant to stand for “generosity.” I have always been a huge sucker for products that donate “x” % of the profits to “y” charity, even if I have to pay as much as a 10-20% mark-up. For example, almost every time I visit a Gap store I find myself purchasing yet another Product Red T-shirt. It just seems wrong to buy anything else in the store when the Product Red merchandise helps address the global issue of AIDS. Also, I recently accepted an internship offer for the summer with General Mills. Part of the reason that I wanted to work for General Mills is that they are well-known for treating their employees with respect and understanding. Employees from the company have already gone out of their way to help address my personal needs, and I cannot even begin to express my gratitude. Then, as a consumer, there is nothing that I enjoy more that when a company shows its gratitude towards me for choosing them in the marketplace. For example, my family and I recently switched from Sprint to T-Mobile as our cell phone service provider. We switched simply because Sprint has terrible customer service and T-Mobile provides outstanding help to customers, even with it is not an emergency. All of the above are opportunities for me to give something while also getting something in return, and according to this blog, we should expect to see a wealth of consumers like me emerge. The reasons why such an emergence is anticipated are three-fold:
1. Recession and Consumer Disgust-During these tough economic times consumers become even more discussed with large, money hungry corporations whose sole purpose is to increase share prices and CEO bonuses. Instead, consumers would rather see corporations who are making conscious efforts to give back to the community because more people are struggling now than ever.
2. Longing for Institutions that Care-According to this blog, “Challenging times see people craving care, empathy, sympathy and generosity.” And we have seen this sort of behavior time and time again, after the 9/11 Terrorist Attacks and Katrina, and we’re seeing it again now during this recession. When struggle becomes a reality for the majority of society, we desire nothing more than an opportunity to support each other and to be supported ourselves. This allows us to build a stronger community with more enduring institutions, and these institutions in turn will no doubt affect the marketplace.
3. For Individuals, Giving is Already the New Taking, and Sharing is the New Giving-We must be cautious in attributing this new Generation G as being solely the result of this recession. While this recession is definitely contributing towards this more “generous” mentality, we must be cautious in recognizing that this is a generation that has been building up slowly for many years. It’s a collection of individuals who feel empowered through giving and who genuinely want to make a difference. They are compassionate and passionate, and they want the opportunity to change the world, no matter how small their means may be.
So why is all of this relevant to companies? The reality is that companies will need to imitate the values and beliefs of consumers if they want to tap into this “Generation G” market. Those companies at the forefront of reaching out to these generous individuals will be sure to be rewarded by these consumers in turn becoming extremely loyal customers. Companies need to strive to build up emotionally driven brands, backed by a reputation for contributing to the greater good of society. And these companies will need to be socially responsible and giving in numerous ways. They will need to focus on giving back to their employees, consumers, charities, the environment, etc. It is not enough to simply focus on one area; rather, today’s “Generation G” consumers are all about the package.
With all that being said, it becomes important to determine just how companies can successfully target these more generous consumers. Luckily, this blog has already identified and outline 8 ways for corporations to join Generation G. By joining this generation, companies will become absorbed into the practices, values and lifestyles of these generosity-focused consumers and will become better integrated into this culture. Consequently, companies that explore how to join this generation will find themselves better able to target this newly emerging market. For my purposes today I will only explore 3 of the 8 ways for corporations to join Generation G.
1. Co-Donate: The basic idea behind this program is that companies work with their customers to co-decide on ideas and programs and even make co-donations meant to benefit society. For example, Whole Foods has a program whereby customers bring in old plastic bags in return for wooden coin that can then be used to select the individual’s charity of choice for which Whole Food’s will then donate money to. Here, the customer and retailer co-donate. The customer donates their old plastic bags, and Whole Foods donates money to the charity of their choice. The retailer and customer also co-decide. Whole Foods provides the charities among which the customer can choose from, and the customer then chooses among which among those charities they would like Whole Foods to contribute to on their behalf.
2. Eco-Generosity: In today’s world, one of the hottest topics without a doubt is global warming. Whether you believe that global warming is a reality or not, most of us can agree that we need to find ways to better take care of our planet. This new trend towards becoming more “green” and eco-friendly has led many companies to start focusing on sustainability in the products that they sell and the projects that they partake in. For example, Toyota’s Prius is currently one of the hottest selling cars because it’s every eco-conscious consumers dream. It uses less fossil fuels and it’s extremely affordable. Thus, Toyota has essentially dominated a large part of the auto market by proving that they too care about the environment and are willing to focus their efforts on developing cars that allow consumers to reduce their carbon footprint. Another recent trend among companies trying to go green is the selling of recyclable grocery bags. Take HEB for example. I recently bought about 8 recycable bags from and HEB grocery store because the store actually had custom bags made for The University of Texas. I thought that it was an extremely cool initiative on the part of HEB to be tailoring bags towards consumer’s interests while also working to promote a good cause. And so, once again, I just could not resist making a socially responsible purchase (or rather 8 of them).
3. Free Stuff: Companies have recently began giving away more and more free items to customers. As a result of decreased production and promotional costs, companies can now actually afford to have free giveaways. And consumers love this. It’s speaks volumes when a company is willing to put aside the opportunity to make money and increase shareholder wealth just so that consumers can have something for free. Companies willing to have giveaways will be able to build a deeper relationship with their consumers of trust and faithfulness. In the long run, companies willing to give away some goods for free will undoubtedly attract more consumer traffic and create a more loyal customer base. For example, Denny’s recently gave away free breakfast to anyone who visited a Denny’s during specified hours. The free breakfast proved to be a huge success. Denny’s everywhere were packed, and although I didn’t get to go personally, I know about two dozen UT students that did. Everyone that did couldn’t stop talking about how great the food was and how considerate it was of Denny’s to be willing to give out free food to patrons. Denny’s benefited because it received a lot of publicity and in-store traffic, and consumers benefited by saving some money will still enjoying something of real value.
All in all, I agree with the vast majority of view points, advice and opinions expressed in this blog. It would be absurd for companies to turn their noses up at “Generation G” consumers since I have no doubt that this type of customer is sure to continue to multiple. Consumers today have a sense of empowerment not afforded to earlier generations. Our technology and means of mass communication have given us a much more in-depth look at issues from all over the world. This new level of global education has allowed for us as consumers to understand that there are people and causes all over the world that need or help, and who doesn’t get the ultimate “high” off of feeling like you’re helping to save the world? However, there is one major point in which I disagree with the author(s) of this blog. I actually think that as a consequence of the recession, companies will have even more difficulty enacting some of the “8 ways for corporations to join Generation G.” For example, I think that companies will find it harder to convince consumers to co-donate and by eco-friendly products. Co-donating often asks consumers to part with something that they own, and during a recession, less consumers are going to be willing to give up what little resources they now have, especially when the resource being called for is money. Also, eco-friendly products tend to be more costly or require the consumer to purchase something that they otherwise wouldn’t have considered. During these tough economic times, it will certainly be difficult to convince consumers to participate in green initiatives that come at a 20% markup. However, that being said, I also think that companies might actually see some of their efforts aimed at being socially responsible receive even higher levels of respect as a result of tough economic conditions. For example, a company that is willing to give away free merchandise/services/etc. to consumers will gain a ton of respect in the marketplace. Consumers know that the current state of the economy is also greatly affecting the profits of companies, and companies that are willing to demonstrate that they care enough to give back even when they barely have the means to do so will surely win over the hearts of consumers.
Tuesday, April 21, 2009
Thursday, April 9, 2009
Final Paper Outline
I. Introduction
a. Thesis-Women are entering into college at staggering numbers these days. This will allow for the rapid development of an educated women’s market segment because these women will undoubtedly have unmet needs. As such, marketers need to be on top of understanding this segment and what sorts of products and services they will need.
i. More Mrs. Robinson, Please
ii. Women with Wheels
iii. We Need More Marie Curies
iv. To Be Decided
II. Body
a. More Mrs. Robinson, Please-As more women receive their degrees and earn higher salaries, they will have more control over their own lives and finances. This will allow them the opportunity to attain an independence that other generations of women have struggled to embrace. All of this will lead to a rise in women who date younger men, now coined by the term “Cougar.”
i. This is an extremely fast-growing and unique segment
1. In 1997, fewer than 500,000 women were involved with a man at least ten years younger than them. However, by 2003, 3 million women were dating a man at least six years younger than them (Penn, 7).
2. Perhaps the greatest explanation relates back to the current trend of women attaining higher levels of education at phenomenal pace. In fact, women are now entering into college at greater rates than men. While back in the 60’s very few women were independent and wealthy enough to have more control over whom they dated, today’s women have the money and the power to be choosy. And they’re choosing to go younger.
ii. It’s now perfectly clear that this trend is rapidly rising within our society, and marketers would be smart to start targeting this group immediately. These women and their “boy-toys” are going to need products and services, and they’re going to need them fast.
1. Take the entertainment industry for example. Movies and television shows have been taping into this segment for quite some time and have found it to be an extremely successful pursuit. However, literature has been much slower to catch on. Where are the fictional stories of a 40-something heroine, successful and confident, wooing a 20-something hunk?
2. Additionally, dating advice books are desperately needed for Cougars and their boyfriends. Few of these books exist today, and the market potential for such books is huge. It is clear that the dynamics within this sort of relationship are quite different from the dynamics of the usual relationship, but just how different are they?
3. Matchmaking services should look towards men and women seeking this type of relationship. Television’s Bravo has had a lot of success with its hit reality TV show, “Millionaire Matchmaker.” Now how about a “Cougar Matchmaker?”
4. According to Valerie Gibson, a sex columnist for the Toronto Sun, “A woman’s sexual peak is more aligned with that of the younger man” (Penn, 8). Victoria’s Secret has enjoyed great success with their “Pink” line targeted towards young and flirty girls. As such, they have demonstrated the power of targeting intimates at a specific segment with specific needs. However, this brings one to wonder then where Victoria’s Secret’s line of Cougar designed lingerie is hiding out at?
b. Women with Wheels- The end of 2008 marked the end of an era for automakers. General Motors found themselves kneeling before the government, begging for a bailout. And they weren’t the only ones. While the solution may seem far out of reach, is it possible that the American car industry is totally in control of its fate? Perhaps the problem comes from the underlying fact that the American car industry is currently doing a superb job of isolating its largest segment of buyers: women.
i. The fact is that the majority of car buyers today are women, and with women obtaining higher levels of education, the number of women buying cars is only expected to increase.
1. How is it then that the U.S. car industry has managed to miss the mark when it comes to women?
a. It begins with what American car makers’ current emphasis these days seem to be on: speed. Sure, men tend to love speed and adrenaline, but the average woman prefers safety and reliability (Penn, 266). In fact, the differences in women’s and men’s tastes in cars is so extreme than when asked to pick their top five car brands, none of the brands identified by women matched those identified by men (Penn, 267).
b. There have been a couple of efforts to target women exclusively, and they have been well-received by women consumers. For example, in 2004 Volkswagen created the first car designed exclusively by women for women. The car focused on features that women deemed to be important, including low maintenance and high reliability. The concept car also included a program that would send a message to a service center when the car was due for inspection (Penn, 266).
2. Outside of car design, there are many other areas that car makers can redesign to cater more to a woman’s taste.
a. Car sellers should also reevaluate the layout of their dealerships. Clutter and dirtiness do not sit well with women. They would prefer a showroom not overstuffed with models, but one with a little more room. A nice sitting area with complementary beverages is a much. Also, privacy is highly valued, and dealerships that don’t allow women to work with car salesman in a secluded office will find themselves struggling to reach this segment.
b. The American car industry also needs to seriously reconsider the current nature of its car commercials. Car commercials today tend to focus on off-roading, speed and agility. However, women want to see a commercial with women handling cars, and not necessarily speeding away at 100 mph. They want to see women with families having a picnic. For single women, they would probably prefer a commercial in which a woman is shown on a road trip with her best friends, completely comfortable in the safety and reliability of her car.
iii. We Need More Marie Curies- One area that the U.S. is especially receiving a lot of scrutiny in education is the lack of emphasis put on pursing math and the sciences. In fact, degrees obtained in science, technology, engineering and mathematics (or STEM degrees) have fallen drastically in the U.S. Perhaps the problem lies in the fact that the government, educational institutions, service providers and product developers have failed to adequately market math and the sciences to the vast majority of current college enrollees: women.
1. Women now outnumber men 57 to 43 percent in terms of college enrollment, and yet women are still entering into math and science related fields at disparaging rates (Penn, 5).
a. According to experts, a lot of the problem arises from gender differences in the ways that girls and boys are brought up. One needs only to look at the various toys marketed to young girls and boys to notice a serious difference in the types of future occupations encouraged at very young ages.
b. These differences among childrearing of boys and girls is then only further influenced by differences in educational practices. Whether it is subtle or not, something is clearly going wrong from the cradle to the schoolroom for young girls. In fact, young girls and women have been found to have much lower levels of confidence in terms of their mathematical capabilities than their male counterparts, and most experts would argue that natural ability between the genders has nothing to do with it (Encouraging Girls in Math and Science).
2. It has become imperative for the government and educational institutions to begin to think like marketers. Also, product manufacturers and service providers will need to contribute to the targeting of women for math and science related programs and products. These “marketers” then need to learn to look at young girls as their potential “customers.”
a. One area that the government could especially look towards encouraging women to participate in is the aerospace field. The government should work on creating summer camps at The Kennedy Space Center and NASA Space Center for young girls from around the nation to attend and learn what a job in aerospace could be like.
b. More private magnet high schools are needed that focus specifically on math and science and cater exclusively to a female student body. For some young women, such a school could help them by allowing their separation from their male counterparts so that they can better develop confidence in their math and science competencies.
c. What we need now is for the service sector to look to the entertainment industry to create shows and movies about math and science that have women at the forefront. CSI, House and Numb3rs all feature men as the primary genius protagonists, but we also need women that young girls can identify with. We need programs with a brilliant female doctor, not primarily portrayed as a sexual symbol but as a brilliant physician.
d. Also, products are needed. Just about every Barbie imaginable has been created, but what about chemist Barbie?
iv. I’m honestly not sure what I’m going to be writing for this section or if I will even include another section at all. I have tossed around the ideas of a section on parenting, changing technology and home buying, but I haven’t settled on a favorite just yet. More importantly, I have written all of my paper except for my introduction and conclusion, and as it stands now it is already 12 pages. As such, I’m not sure if I will have the room to thoroughly explore another section. I will just have to see once I have finished editing what I have now and writing my introduction and conclusion.
III. Conclusion
a. Educated women are going to radically change the marketplace. They have unique needs that are still unmet. Ignoring this segment in the future will essentially end up being economic suicide as they will soon have the finances and independence to rule a large part of the segment. As such, marketers would be smart to begin targeting these women early on so that they can have educated women as part of their market following.
b. What I have learned from this study.
i. I have learned that I should be proud of my own accomplishments as an educated woman. I am going to have a lot of financial power, and I need to start being responsible with my purchases and identifying my needs.
ii. I have learned that this market can drastically differ in terms of their wants and desires from their male counterparts.
iii. These women are going to change and reshape the way we carry out almost every aspect of our lives. They are going to have a huge say in politics, education, relationships, consumer purchases, and just about every other area you can think of.
c. Application to customer insights-this is applicable to customer insights because by being insightful and truly learning to think like these women, a whole new market with new potential emerges. This new market will allow those marketers and companies at the forefront to achieve huge economic gains and new levels of respect.
d. Concerns-I’m having difficulty finding trade journal articles to use, but I know that we have talked about this so I will be coming to you soon for help. Also, I was concerned that my section “We Need More Marie Curies” wouldn’t be understood, but we talked about this in your office hours, and you seemed to really like it so I think that’s fine.
a. Thesis-Women are entering into college at staggering numbers these days. This will allow for the rapid development of an educated women’s market segment because these women will undoubtedly have unmet needs. As such, marketers need to be on top of understanding this segment and what sorts of products and services they will need.
i. More Mrs. Robinson, Please
ii. Women with Wheels
iii. We Need More Marie Curies
iv. To Be Decided
II. Body
a. More Mrs. Robinson, Please-As more women receive their degrees and earn higher salaries, they will have more control over their own lives and finances. This will allow them the opportunity to attain an independence that other generations of women have struggled to embrace. All of this will lead to a rise in women who date younger men, now coined by the term “Cougar.”
i. This is an extremely fast-growing and unique segment
1. In 1997, fewer than 500,000 women were involved with a man at least ten years younger than them. However, by 2003, 3 million women were dating a man at least six years younger than them (Penn, 7).
2. Perhaps the greatest explanation relates back to the current trend of women attaining higher levels of education at phenomenal pace. In fact, women are now entering into college at greater rates than men. While back in the 60’s very few women were independent and wealthy enough to have more control over whom they dated, today’s women have the money and the power to be choosy. And they’re choosing to go younger.
ii. It’s now perfectly clear that this trend is rapidly rising within our society, and marketers would be smart to start targeting this group immediately. These women and their “boy-toys” are going to need products and services, and they’re going to need them fast.
1. Take the entertainment industry for example. Movies and television shows have been taping into this segment for quite some time and have found it to be an extremely successful pursuit. However, literature has been much slower to catch on. Where are the fictional stories of a 40-something heroine, successful and confident, wooing a 20-something hunk?
2. Additionally, dating advice books are desperately needed for Cougars and their boyfriends. Few of these books exist today, and the market potential for such books is huge. It is clear that the dynamics within this sort of relationship are quite different from the dynamics of the usual relationship, but just how different are they?
3. Matchmaking services should look towards men and women seeking this type of relationship. Television’s Bravo has had a lot of success with its hit reality TV show, “Millionaire Matchmaker.” Now how about a “Cougar Matchmaker?”
4. According to Valerie Gibson, a sex columnist for the Toronto Sun, “A woman’s sexual peak is more aligned with that of the younger man” (Penn, 8). Victoria’s Secret has enjoyed great success with their “Pink” line targeted towards young and flirty girls. As such, they have demonstrated the power of targeting intimates at a specific segment with specific needs. However, this brings one to wonder then where Victoria’s Secret’s line of Cougar designed lingerie is hiding out at?
b. Women with Wheels- The end of 2008 marked the end of an era for automakers. General Motors found themselves kneeling before the government, begging for a bailout. And they weren’t the only ones. While the solution may seem far out of reach, is it possible that the American car industry is totally in control of its fate? Perhaps the problem comes from the underlying fact that the American car industry is currently doing a superb job of isolating its largest segment of buyers: women.
i. The fact is that the majority of car buyers today are women, and with women obtaining higher levels of education, the number of women buying cars is only expected to increase.
1. How is it then that the U.S. car industry has managed to miss the mark when it comes to women?
a. It begins with what American car makers’ current emphasis these days seem to be on: speed. Sure, men tend to love speed and adrenaline, but the average woman prefers safety and reliability (Penn, 266). In fact, the differences in women’s and men’s tastes in cars is so extreme than when asked to pick their top five car brands, none of the brands identified by women matched those identified by men (Penn, 267).
b. There have been a couple of efforts to target women exclusively, and they have been well-received by women consumers. For example, in 2004 Volkswagen created the first car designed exclusively by women for women. The car focused on features that women deemed to be important, including low maintenance and high reliability. The concept car also included a program that would send a message to a service center when the car was due for inspection (Penn, 266).
2. Outside of car design, there are many other areas that car makers can redesign to cater more to a woman’s taste.
a. Car sellers should also reevaluate the layout of their dealerships. Clutter and dirtiness do not sit well with women. They would prefer a showroom not overstuffed with models, but one with a little more room. A nice sitting area with complementary beverages is a much. Also, privacy is highly valued, and dealerships that don’t allow women to work with car salesman in a secluded office will find themselves struggling to reach this segment.
b. The American car industry also needs to seriously reconsider the current nature of its car commercials. Car commercials today tend to focus on off-roading, speed and agility. However, women want to see a commercial with women handling cars, and not necessarily speeding away at 100 mph. They want to see women with families having a picnic. For single women, they would probably prefer a commercial in which a woman is shown on a road trip with her best friends, completely comfortable in the safety and reliability of her car.
iii. We Need More Marie Curies- One area that the U.S. is especially receiving a lot of scrutiny in education is the lack of emphasis put on pursing math and the sciences. In fact, degrees obtained in science, technology, engineering and mathematics (or STEM degrees) have fallen drastically in the U.S. Perhaps the problem lies in the fact that the government, educational institutions, service providers and product developers have failed to adequately market math and the sciences to the vast majority of current college enrollees: women.
1. Women now outnumber men 57 to 43 percent in terms of college enrollment, and yet women are still entering into math and science related fields at disparaging rates (Penn, 5).
a. According to experts, a lot of the problem arises from gender differences in the ways that girls and boys are brought up. One needs only to look at the various toys marketed to young girls and boys to notice a serious difference in the types of future occupations encouraged at very young ages.
b. These differences among childrearing of boys and girls is then only further influenced by differences in educational practices. Whether it is subtle or not, something is clearly going wrong from the cradle to the schoolroom for young girls. In fact, young girls and women have been found to have much lower levels of confidence in terms of their mathematical capabilities than their male counterparts, and most experts would argue that natural ability between the genders has nothing to do with it (Encouraging Girls in Math and Science).
2. It has become imperative for the government and educational institutions to begin to think like marketers. Also, product manufacturers and service providers will need to contribute to the targeting of women for math and science related programs and products. These “marketers” then need to learn to look at young girls as their potential “customers.”
a. One area that the government could especially look towards encouraging women to participate in is the aerospace field. The government should work on creating summer camps at The Kennedy Space Center and NASA Space Center for young girls from around the nation to attend and learn what a job in aerospace could be like.
b. More private magnet high schools are needed that focus specifically on math and science and cater exclusively to a female student body. For some young women, such a school could help them by allowing their separation from their male counterparts so that they can better develop confidence in their math and science competencies.
c. What we need now is for the service sector to look to the entertainment industry to create shows and movies about math and science that have women at the forefront. CSI, House and Numb3rs all feature men as the primary genius protagonists, but we also need women that young girls can identify with. We need programs with a brilliant female doctor, not primarily portrayed as a sexual symbol but as a brilliant physician.
d. Also, products are needed. Just about every Barbie imaginable has been created, but what about chemist Barbie?
iv. I’m honestly not sure what I’m going to be writing for this section or if I will even include another section at all. I have tossed around the ideas of a section on parenting, changing technology and home buying, but I haven’t settled on a favorite just yet. More importantly, I have written all of my paper except for my introduction and conclusion, and as it stands now it is already 12 pages. As such, I’m not sure if I will have the room to thoroughly explore another section. I will just have to see once I have finished editing what I have now and writing my introduction and conclusion.
III. Conclusion
a. Educated women are going to radically change the marketplace. They have unique needs that are still unmet. Ignoring this segment in the future will essentially end up being economic suicide as they will soon have the finances and independence to rule a large part of the segment. As such, marketers would be smart to begin targeting these women early on so that they can have educated women as part of their market following.
b. What I have learned from this study.
i. I have learned that I should be proud of my own accomplishments as an educated woman. I am going to have a lot of financial power, and I need to start being responsible with my purchases and identifying my needs.
ii. I have learned that this market can drastically differ in terms of their wants and desires from their male counterparts.
iii. These women are going to change and reshape the way we carry out almost every aspect of our lives. They are going to have a huge say in politics, education, relationships, consumer purchases, and just about every other area you can think of.
c. Application to customer insights-this is applicable to customer insights because by being insightful and truly learning to think like these women, a whole new market with new potential emerges. This new market will allow those marketers and companies at the forefront to achieve huge economic gains and new levels of respect.
d. Concerns-I’m having difficulty finding trade journal articles to use, but I know that we have talked about this so I will be coming to you soon for help. Also, I was concerned that my section “We Need More Marie Curies” wouldn’t be understood, but we talked about this in your office hours, and you seemed to really like it so I think that’s fine.
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