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Key Factors Influencing their Consumer Behaviour in Order to Generate Actionable Insights for Marketing and Communication

Rs. 1,500.00



Introduction:
The objective of this thesis apart from understanding what motivates children is to identify “key factors influencing their consumer behaviour in order to generate actionable insights for marketing and communication
In today’s world, many marketers are finding that their tried and tested ‘rules’ no longer always apply. Across all segments, social relationships are changing, media is fragmented, and everything is happening at wrap speed. But it is amongst tomorrow’s consumers that the changes are having most impact.
The fact that the research clearly demonstrates that young consumers don’t just influence family purchases like breakfast cereals; but have an important say on big ticket items like cars and adult fashion has major marketing implications. Most importantly, the point to remember is that wherever you are based in the world, you should be thinking about whether your brand or service requires a ‘teen’ brand strategy.
However, if you decide this is the route you want to go down, then prepare for a ride of a lifetime. You’ll have to get to grips with new ways of thinking and new ways of communicating. You’ll have to learn that when it comes to managing your brand or service, you have to be double-jointed, not just flexible. You’ll have to work in teen time, i.e. 24 hours a day, seven days a week, and talk teenspeak.
One of the largest categories of influence in the purchase of all FMCG brand is impulse. When shopping with a parent, or especially when doing it alone, teens are tending to make brand selections, often overruling the parent. Teens have their tactics. They’ll slip it into the shopping cart or hand the item directly to the cashier or even throw a mini-tantrum causing the parent to capitulate rather than be embarrassed. If we were to compare this purchasing behaviour to that of 10 years ago, we would observe a dramatic change – some may say for the worse. But it’s interesting to note that teens’ perception of their own power is in fact underestimated. When asked to think of their direct influence purchases, they tend to recount how often they have to ask, how much they have to nag, or how much they have to plead for a certain item. Their influence extends way beyond the day-to-day shopping situation. Even when they’re not present, purchasing decisions are made at their request. Parents have a basic desire to please their children. So if they know that their child favours X to Y, they’ll purchase X. this is a relatively new trend. But then teens are more brands savvy than their contemporaries 10 years ago.
So what kind of influence do they have over the purchase of cars, computers and other electronic goods? Teens are also influence their parents over purchases of technology-driven brands, or brands that tend to be more fashionable. Often parents take along their teen to the store to have their advice.
The in-control, assertive, demanding child has actually enabled the parents to visit the child within, and perhaps even relive a childhood they did not experience. Gone are the shackles binding each into predefined clichéd roles handed down by generations. This is the time for experimentation, exploration, mediation, a time to redefine the relationship and make it more rewarding for both.

Number of Pages of Project Report: 199
Package Includes: Project Report
Synopsis Available: No
Project Format: Document (.doc)

Table of Contents of Project Report:
1. Introduction
2. Research Methodology and Design
3. Teenage – A phase of life marked by special attributes
4. Kidsmap – Understanding the emotional territories of childhood
5. Headlines
6. Interactive generation which seeks instant gratification
7. Global – not isolated from the rest of the world
8. Parents vs. Kids – Striking a balance
9. Battle of the Peers
10. Impact of media and advertising
11. Brands = self identity
12. KGOY – Keenly seek suitability for ‘my age’, reject the ‘childish’
13. Teenspeak – Slanguage
14. Changing values, attitudes and behaviours
15. Teen dreams of bright and happy future
16. Psychographic segmentation Communicating with TeensAdvertising, Media Planning and Retailing for teens
17. Peer to peer marketing
18. Guidelines for Targeting Teens
19. Kidsbiz – Things that need to be taken into account while targeting teens
20. Code of Ethics – Dealing with teens is like dealing with the future
21. Conclusion – Prepare for a ride of a lifetime!!
22. Bibliography
23. Appendices


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