Markets, Segmentation, Targeting and Positioning
Question 4: Number of Words 495
There are several challenges encountered when marketing to Gen Z. First, it is difficult to develop standardized advertisements that appeal to the whole market (Cangiani 2011). They have different preferences of what they want to see on the internet. Secondly, marketers must keep the advertisements short since prolonged ones become boring to watch for this generation. In addition, they cannot advertise numerous products within one advertisement. They must always use different advertisements for different products. Most importantly, internet marketing is expensive given that most marketers require multiple advertisements to acquire a wide market (Direr 2013).
The theory applicable is psychographic segmentation. The theory helps marketers understand the psychological traits and lifestyles of the targeted customers (Levine & Zahradnik 2012). The theory’s psychological approach centers on the motives and attributes of personality, which in turn helps marketers to develop effective advertisements. For instance, Gen Z’s motive for using the internet is to enjoy online services through entertaining products and site.
The first application of the theory shows marketers that gen Z prefers visual engagement. Most product messages now involve the use of images. The implication is that marketers must use both moving and stationery images to attract the attention of the customers in gen Z. The ability to market effectively will depend on how well one can develop clear images that messages to an audience at first glance. In this generation Z, capturing their attention must involve maximum use of the visual and hands-on style of learning. It currently dominates the traditional methods of auditory techniques used in most schools. Therefore, images must incorporate segments that will engage the user’s hands (Dixon 2011). For instance, the advertisements can have a segment for the customer’s comment after the viewing. Another way of engaging the consumer may entail their actual participation in the advertisement (Correia et al. 2013). It will surpass the challenges posed by language barriers (Dixon 2011). Colors, brands, and logos will be more effective given that visual messages and advertisements get as many as 4.7 billion views and searches on sites like Google.
In order to maintain the faith of the organization in their services, must reach out to consumers in the best channels that allow them to work with the customers. The internet provides a platform for direct communication between organizations and the customers, hence they can reach gen Z with ease (Direr 2013). As a result, marketers must always get feedback from gen Z directly and feed it back to the organization. If they provide conflicting information, the management will believe gen Z, the customers, rather than the marketers based on the opinion they give on social sites such as Facebook or Twitter.
Since gen Z uses much information on the internet, marketers can use that as a weakness and engage them in constant conversation and activities. It will help to generate feedback easily regarding the products they offer, which will also help the customers to enjoy better services (Correia et al. 2013).
Cangiani, M, 2011, Karl Polanyi's Institutional Theory: Market Society and Its "Disembedded" Economy.
Correia, M., Cruz, G., Nunes, R., Martins, J., Gonçalves, R., Paredes, H., & Martins, P., 2013, Network for All: A Proposal for an Accessible Social Media Aggregator Solution.
Direr, A.2013, Are betting markets efficient? Evidence from European Football Championships. Applied Economics. doi:10.1080/00036846.2011.602010
Dixon, D. F, 2011, Wroe Alderson's Marketing Behaviour and Executive Action inserted into Reavis Cox's marketing theory course at Wharton 50 years ago : A student's reaction. Journal of Historical Research in Marketing. doi:10.1108/17557501111102382
Levine, H., & Zahradnik, A. G., 2012, Online Media, Market Orientation, and Financial Performance in Nonprofits. Journal of Nonprofit & Public Sector Marketing. doi:10.1080/10495142.2012.652908