Description
This documentation is explaining about lifestyle marketing.
LIFESTYLE MARKETING:
In the 21st century, "Lifestyle Marketing" has become the magic buzzword and the latest merchandising strategy to enthrall customers after the 80s "Niche Marketing" and the 90s "Branding" craze. Simply put, lifestyle marketing is having a promotional approach centered on the interests, values, attitudes and way of life of consumers/target group. The key words here are 'WAY OF LIFE' of prospects and customers. In lifestyle marketing one categorizes customers based on their interests, activities and opinions. A classic example of lifestyle marketing is the HARLEY-DAVIDSON bike that has morphed in to cult marketing. Similarly Shahnaz Hussain and her array of beauty products are a way-of-life! Lifestyle marketing attempts to group customers according to some amalgamation of three categories of variables Activities, Interests, and Opinions (AIO) and identifies the potency of a customer's chosen lifestyle for determining the sort of products to be purchased and the specific brands that are further likely to appeal to the chosen lifestyle segment. Lifestyle marketing has assumed a new paradigm in today's competitive business world. Lifestyle Marketing necessitates and works best when companies are able to connect with the lifestyle of their existing and potential customers by developing effective marketing strategies that seamlessly fit their way of living. It provides tremendous opportunities to the companies to directly target a specific type of consumer who will most likely be an enthusiast of the company's specific products and thus, provide a competitive business advantage to the company and generate more business. The companies have to be constantly attentive and tuned in to the simple reality, that understanding consumers and reflecting their AIO through sound message is what really builds for successful Lifestyle Brands and Lifestyle Marketing. With that in mind, the companies should dedicate a concrete portion of the marketing energies towards Lifestyle Marketing Necessarily, lifestyle marketing requires and works best when companies are able to connect with how their existing and potential customers live. Consumers are immersed in a certain way of life and brands have to straddle strategies, which seamlessly fit in with this way of living. What is evident in the success stories of lifestyle brands across categories — beer, cigarettes, shoes, apparel, motorbikes — is that the companies that have spent millions of rupees, dollars or pounds behind developing work that supports the beliefs and core values of consumers, have really won in the market place. Consumers are consistently changing their perceptions, attitudes and consumption patterns, and it takes considerable effort and research to keep track of these changes.
And with the inroads made by the Internet in consumer buying patterns, things are even more complex, as companies must now target consumers' online based on their activity and shopping habits, which can change rapidly. Lifestyle marketing really attempts to group consumers according to some combination of these three categories: activities, interests and opinions. Take Nike for example. When you see someone wearing sneakers and you happen to glance down at his or her feet, what happens? First you recognize the brand — the Swoosh gives it away. That swoosh could appear on a billboard with no other words, just the swoosh, and you would still connect with it. Why? Because you don't just recognize a brand, you connect with it on an emotional level, without even realizing its happening. Subconsciously, you run a series of `clips' in your mind about the brand. In Nike's case, that swoosh conjures up memories of the first pair you ever got. The pair you wanted so badly, but never got. Nike wants its customers to feel like they can do anything in life as long as they're wearing a pair of Nike. To me, that's lifestyle branding at its finest. Why have brands become ever more powerful and omnipresent today. The general presumption is that the increasing shift toward brands simply reflects our culture's on-going obsession with displays of wealth and status — the big name brand signaling that you can afford the best. While there is probably no doubt in this view, especially amongst those eager to signal success, it probably eclipses the understanding that most brands and consumption patterns have changed over time. The simplistic language that brands equal wealth has begun to be overstepped by something far more complex — the lifestyle brand.
doc_661460934.docx
This documentation is explaining about lifestyle marketing.
LIFESTYLE MARKETING:
In the 21st century, "Lifestyle Marketing" has become the magic buzzword and the latest merchandising strategy to enthrall customers after the 80s "Niche Marketing" and the 90s "Branding" craze. Simply put, lifestyle marketing is having a promotional approach centered on the interests, values, attitudes and way of life of consumers/target group. The key words here are 'WAY OF LIFE' of prospects and customers. In lifestyle marketing one categorizes customers based on their interests, activities and opinions. A classic example of lifestyle marketing is the HARLEY-DAVIDSON bike that has morphed in to cult marketing. Similarly Shahnaz Hussain and her array of beauty products are a way-of-life! Lifestyle marketing attempts to group customers according to some amalgamation of three categories of variables Activities, Interests, and Opinions (AIO) and identifies the potency of a customer's chosen lifestyle for determining the sort of products to be purchased and the specific brands that are further likely to appeal to the chosen lifestyle segment. Lifestyle marketing has assumed a new paradigm in today's competitive business world. Lifestyle Marketing necessitates and works best when companies are able to connect with the lifestyle of their existing and potential customers by developing effective marketing strategies that seamlessly fit their way of living. It provides tremendous opportunities to the companies to directly target a specific type of consumer who will most likely be an enthusiast of the company's specific products and thus, provide a competitive business advantage to the company and generate more business. The companies have to be constantly attentive and tuned in to the simple reality, that understanding consumers and reflecting their AIO through sound message is what really builds for successful Lifestyle Brands and Lifestyle Marketing. With that in mind, the companies should dedicate a concrete portion of the marketing energies towards Lifestyle Marketing Necessarily, lifestyle marketing requires and works best when companies are able to connect with how their existing and potential customers live. Consumers are immersed in a certain way of life and brands have to straddle strategies, which seamlessly fit in with this way of living. What is evident in the success stories of lifestyle brands across categories — beer, cigarettes, shoes, apparel, motorbikes — is that the companies that have spent millions of rupees, dollars or pounds behind developing work that supports the beliefs and core values of consumers, have really won in the market place. Consumers are consistently changing their perceptions, attitudes and consumption patterns, and it takes considerable effort and research to keep track of these changes.
And with the inroads made by the Internet in consumer buying patterns, things are even more complex, as companies must now target consumers' online based on their activity and shopping habits, which can change rapidly. Lifestyle marketing really attempts to group consumers according to some combination of these three categories: activities, interests and opinions. Take Nike for example. When you see someone wearing sneakers and you happen to glance down at his or her feet, what happens? First you recognize the brand — the Swoosh gives it away. That swoosh could appear on a billboard with no other words, just the swoosh, and you would still connect with it. Why? Because you don't just recognize a brand, you connect with it on an emotional level, without even realizing its happening. Subconsciously, you run a series of `clips' in your mind about the brand. In Nike's case, that swoosh conjures up memories of the first pair you ever got. The pair you wanted so badly, but never got. Nike wants its customers to feel like they can do anything in life as long as they're wearing a pair of Nike. To me, that's lifestyle branding at its finest. Why have brands become ever more powerful and omnipresent today. The general presumption is that the increasing shift toward brands simply reflects our culture's on-going obsession with displays of wealth and status — the big name brand signaling that you can afford the best. While there is probably no doubt in this view, especially amongst those eager to signal success, it probably eclipses the understanding that most brands and consumption patterns have changed over time. The simplistic language that brands equal wealth has begun to be overstepped by something far more complex — the lifestyle brand.
doc_661460934.docx