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Why People Buy Things They Don't Need To target the luxury market, ask first why they want what they buy. This book identifies the five types of luxury spenders and the fourteen ways they justify their purchases. Unlike their parents, whose early experiences of the Great Depression shaped lifelong patterns of careful economizing, baby boomers like to spend. They are a powerful collective economic force, not only because of their number but also because they tend to be outgoing, open to new things, and determined to live for the moment. To baby boomers, money is useful only insofar as it can furnish a better, fuller life. Many a highly successful marketing campaign has played to a certain baby boomer proclivity towards luxury. But this luxury-buying baby boomer target market is savvy and confident, and consumers that fall into this demographic are usually very sure about what they want and why. To target them, you must be equally up to speed. Why People Buy Things They Don't Need by Pam Danziger, a respected national authority in the field of luxury marketing, sets out to debrief business and marketing professionals on the essentials of consumer motivations. Insofar as baby boomers make up a very sizeable chunk of luxury consumers, it's all but essential reading to professionals targeting the 40-60-year-old market. In a rapidly changing world, Danziger charges, it's still possible to trace a fundamental continuity in consumer behavior. The secret is to look not at what consumers want – which can vary from season to season – but why they want it, since human motivations are remarkably steady and predictable over time. Too many marketers fail even to ask themselves why this or that consumer choice is popular. Her strategy urges marketers to focus on the experience of shopping, owning and enjoying, rather than on qualities inherent in the goods or services offered. Through surveys, interviews and focus groups, she queried men and women of all ages about the nature of their discretionary purchases and the drivers that lead them to spend. Based on her research, Danziger identifies five types of consumers according to the fourteen different "justifiers" she says consumers use to back up their discretionary purchasing decisions. Her examination of the emotional dimensions of consumer spending is extensive and illustrated with case studies of companies that successfully play to the desires of their luxury target market. Her input on the future of discretionary spending will also be of interest to professionals anticipating the impact of baby boomers entering empty-nest and retirement phases, and generation xers moving into more affluent middle age. Also providing statistical summaries of 37 different product areas within the luxury market, the book will guide and inspire corporate leaders, marketing and sales executives, strategic planners, futurists, and retail merchandisers to find their target market's sweet spot and increase luxury sales even further. Back To Mature Market News → Go To The GenerationTarget.com Mature Market Bookstore → |
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