Transcript Baby Boomers - Home - International Crystal Federation

NEW STRATEGIES TO INCREASE THE CUSTOMER
BASE OF THE CRYSTAL GLASS INDUSTRY
Rutgers, The State University of New Jersey, School of Engineering
Dr. Holly Crawford
Dr. Richard Lehman
Giorgiana Giancola
Danielle Kienzle
Jamie McCarthy
Ariel Yakubov
NEW STRATEGIES TO INCREASE THE CUSTOMER BASE OF
THE CRYSTAL GLASS INDUSTRY
• Who is the target market?
– Baby Boomers vs. Generation Y
• Methods of reaching the target market
– Traditional marketing vs. Internet marketing
• Future solutions
– Information Architecture
– Advertisement
– Google Analytics
• Conclusions
WHO IS THE TARGET MARKET?
Baby Boomers
BBaby
ABY BBoomers
OOMERS
• Born between 1946 and 1964
• Innovations:
• Television
• Transistor Radio
• Impact
• People in diverse geographic locations
could watch the same shows, listen to the
same news, laugh at the same jokes.
CCharacteristics
HARACTERISTICS OF
of BBaby
ABY BBoomers
OOMERS
• Important segment for retailers
– Large Population
– Independent
– Self-focused
– Big Spenders
• Will spend money, cash, or credit on luxuries
• Anticipated pattern shift
– Within the next 20 years
BBaby
ABY BBoomer’s
OOMER’S CONSUMER
Consumer
BEHAVIOR
Behavior
• Problem:
– Life Style
• Lack of leisure time
• Stress
• Solution:
– Make entertainment an integral part of the retail
experience.
WHO IS THE TARGET MARKET?
Generation Y
GGeneration
ENERATION YY
• Born between 1985–1995.
• The internet generation
– grown up with computer technology
• Generation Y are usually the children of Baby Boomers.
– Therefore, there is a perceived tendency to share social
views with the Boomers and culture with Gen X, who serve
chiefly as their 'older cousins' or even older siblings.
– Many people from Gen Y show a trend of interest in
retro-oriented culture and the potential to revive it
GEN Y STATISTICS
•97% own a computer
•94% own a cell phone
•76% use Instant Messaging.
•15% of IM users are logged on 24 hours a day/7 days a week
•34% use websites as their primary source of news
•28% own a blog and 44% read blogs
•49% download music using peer-to-peer file sharing
•75% of students have a Facebook account
•60% own some type of expensive portable music and/or video
device such as an iPod.
WHAT DOES THIS HAVE TO DO WITH CRYSTAL?
• Baby Boomers were the traditional focus of crystal
advertising.
– The baby boomers were targeted with traditional
marketing.
• Generation Y should be the future focus of crystal marketing.
– How to target Generation Y?
METHODS OF REACHING THE TARGET MARKET
Traditional Marketing
TRADITIONAL MARKETING
• Baby Boomers have been the typical focus of crystal
advertising
• TV, Radio, Print mail (catalogs, magazines, and
newspapers)
• Pick media outlet that reaches a demographic most
like the desired customer base
• Why traditional over internet?
– having that “in your face” connection
– reaching target demographic
TRADITIONAL VS. INTERNET MARKETING
• Traditional Marketing uses
demographics to attempt to narrow a large
population to a targeted 'potential' viewer
• Internet Marketing requires no
demographics
• It is the targeted viewer (consumer)
searching for specific content
TRADITIONAL MARKETING…OUTDATED?
• Traditional marketing in the crystal
industry has always advertised towards
– Women
– Caucasian/White
– Upper Class
• Expand marketing strategy to other
demographics
• Image of crystal has changed
METHODS OF REACHING THE TARGET MARKET
Internet Marketing
INTERNET MARKETING TARGETS GENERATION Y
Internet Quick Facts:
More than 220 countries are linked
into exchanges of data, news and
opinion.
In 2004, throughout the entire
world 729.2 million people had
access to the internet
Internet marketing is a company’s
global means of communication to a
massive market.
Remember: 97% of Generation Y
have access to a computer
Global Reach, 2007
CAPABILITIES OF THE INTERNET
It has the potential to:
• Open a whole new market to people who may not
know such products exist.
• Provide people with a new way to purchase who
may not have physical access to specific shopping
locations.
• Provides a 24/7 shopping window to browse and
purchase at their leisure.
BREAKING BARRIERS
1.
2.
It is both a verbal and non
verbal style of marketing.
Does not necessitate the
understanding of language
or intimidation of sales pitch.
Conclusion: Internet marketing
breaks educational, cultural
and socioeconomic barriers
of consumers.
WHY SHOULD A COMPANY MARKET ONLINE?
o A company has the ability to
continue the relationship.
o A chance to gather information.
o Feedback from the customer.
o People will share brand experiences.
In this world where individual lives are shared
online (MySpace, Facebook etc) , there will be huge
opportunities for marketers in 2007 and beyond.
INTERNET MARKETING SAVES MONEY
• Reduction in sales force
• Expansion made easy from
local to national or international
markets
• Digital media is much easier to
track then traditional media
• Any alterations to digital
media is usually less complicated
and cheaper than altering print
media
FUTURE SOLUTIONS
• Information Architecture
• Advertisement
•Search Engines
•Web 2.0
• Google Analytics
WHAT IS INFORMATION ARCHITECTURE?
• Structure
• Looks do not play a role
• Sitemaps
• The main goal of this feature is to enable the
user to find the user’s desired information quickly
and easily
• Big Social Aspect in design
ARCHITECTURE: GOOD VS. BAD
Figure 1
YourBreakfast.co
m
Our history
Please sign
up
Press
releases
Please answer these questions to drive
you personal Breakfast Engine
Your personal Breakfast engine has
been set up, please sign in
Hot
Drinks
Tea
Coffee
Bread
Spreads
Jam
Peanut
butter
Cheese
Juice
Cereal
ARCHITECTURE: GOOD VS. BAD
Figure 2
Breakfasttable.com
shortcut link to yesterday's
selection
Cereal
Drinks
Coffee
Tea
Juice
Bread
Jam
Cheese
Peanut
butter
INFORMATION ARCHITECTURE ANALYSIS
•Figure 1
•Figure 2
– Convoluted
– Simpler
– Inconsistent
– Intuitive
– Unnecessarily complicated
– Remembers yesterday's
order
– Harder to use for user
FUTURE SOLUTIONS
Advertisement
Search Engines
GOOGLE’S ADWORDS
• pay-per-click (PPC) advertising
• Google offers
• site-targeted advertising for both text and banner ads
• content network (AdSense)
• AdSense
• Used by publishers who wish to bring traffic to their
websites
FUTURE SOLUTIONS
Advertisement
Web 2.0
ADVERTISEMENT
Web 2.0
• social-networking sites, wikis
• MySpace.com, Facebook.com, Classmates.com, YouTube,
Ebay.
• MySpace and Facebook
• MySpace's total unique U.S. visitors in June are 70.5
million
• Facebook – attracts almost all college and high school
students.
• YouTube - Creating videos to promote crystal use
• These are just a few among hundreds
FUTURE SOLUTIONS
Google Analytics
GOOGLE ANALYTICS
• Generates detailed statistics about visitors to a company’s
website
• Webmaster can optimize the website’s AdWords (keywords)
advertisement and marketing campaigns
• Analysis can show
– Where user came from
– Geographical location
GOOGLE ANALYTICS - DATA ANALYSIS WINDOW
CONCLUSIONS
• If the Crystal industry wants to target Generation Y it MUST
channel its products through the internet.
• Take Advantage of the Web2.0 boom.
• Effectively Manage its products through correct Information
Architecture
• Incorporate continuous feedback to adjust and improve on
effective reach to all users.