I am continually fascinated by consumer behavior. And just when I think I have it pretty much figured out, a new finding shows that there is so much to learn.
“When gas prices fall, Americans reliably do two things that don’t make much sense. They spend more of the windfall on gasoline than they would if the money came from somewhere else. And they don’t just buy more gasoline. They switch from regular gas to high-octane.”
Pepsico President — Global Beverages Group, Brad Jakeman
Harley-Davidson, Chief Marketing Officer Mark-Hans Richter “truth tell” about the ad industry.
“The Lack of Diversity” —
“I am sick and tired as a client of sitting in agency meetings with a whole bunch of white straight males talking to me about how we are going to sell our brands that are bought 85% by women,” he said. “Innovation and disruption does not come from homogeneous groups of people.”
“Fake Fight: Millennials vs. Boomers” — Why limit (your) growth to marketing directed to young adults?
“Youth does not own cool. Youth does not own growth. Youth does not own innovation or disruption.” he said. “Old people are a growth market, too.”
“There are some positives heading into the holiday season: improving consumer confidence, lower gas prices and job gains, all of which should spur consumer spending, much of which will be led by multicultural consumers and large households.”
A recent report shows that Blacks want companies to recognize their unique culture. The overwhelming majority of those surveyed, 87%, feel ethnic recognition is important compared to 59% of the general population. Seventy-three percent of African-American adults 18-54 years old stated that cultural/ethnic heritage is a critical part of their cultural identity.