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Chasing the Elusive Consumer

Chasing the Elusive Consumer. By Bill Troy, Business Program Coordinator and Lecturer, the University of New Hampshire at Manchester. Who are we? One of the colleges of UNH, providing a high quality education primarily to Merrimack Valley commuter students.

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Chasing the Elusive Consumer

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  1. Chasing the Elusive Consumer By Bill Troy, Business Program Coordinator and Lecturer, the University of New Hampshire at Manchester

  2. Who are we? • One of the colleges of UNH, providing a high quality education primarily to Merrimack Valley commuter students. • Approximately 800 Bachelor’s students • Focus on Liberal Arts and Professional education for careers in: • Business • Biology • Computer Systems • Psychology • Communication Arts • Teaching (M.A.T. program) • Internships required in many majors, great opportunities. • Small classes (less than 20)

  3. My Brief Biography • B.A. in Economics from the University of Massachusetts in Amherst • Magna Cum Laude and Commonwealth Scholar • Phi Beta Kappa • M.B.A. from Johnson School of Cornell University • Economist for U.S. Labor Department, B.L.S. • Varying roles at DIGITAL Equipment, including consulting and Director of brand advertising • Ericsson – Director of Marketing for the Broadband division • Currently: • U.N.H. –Business Program director, and Marketing lecturer, at the Manchester Campus • WPI – Adjunct Management Instructor in International Business

  4. Chasing the Elusive, Evolving Consumer • Today's consumer is more mobile, busier, and less connected to traditional media than ever. • We will provide a fast evolving, data driven, context for how vast the media changes within U.S. consumers have arisen, and methods that marketers are using in reaching consumers in this fragmenting landscape. 

  5. My basic viewpoint • Marketing is changing SO rapidly that is hard to know “What” to DO , complicating ‘How’ and ‘Why’ • My goal is to inform you as to trends. • My mid-p.m. presentation will be more specific to Mt. Washington Valley.

  6. Quiz • What are some of the major changes occurring in marketing today? • Demographics • Psychographics • B2C purchasing • Media Consumption

  7. Where are We Today? • Income gradients • Bifurcating consumer markets • “Where is the Middle Class”? • In a “Muddle” • Diminishing incomes • Low savings

  8. HH Formation Trends

  9. Changing Race/Ethnic Makeup

  10. Oldest States in the Country (nh.gov) http://www.nhes.nh.gov/elmi/products/documents/ec-0514.pdf

  11. Median Value of ALL assets, including Housing • AGE OF HOUSEHOLDER • Less than 35 years $6,676 • 35 to 44 years35,000 • 45 to 54 years84,542 • 55 to 64 years143,964 • 65 years and over170,51665 to 69 years194,226 • 70 to 74 years181,078 • 75 and over155,714

  12. Assets by Educational Attainment • No High School Diploma $9,800 • High School Graduate Only $43,945 • Some College, No Degree $49,082 • Associate's Degree $56,512 • Bachelor's Degree $147,148 • Graduate or Professional Degree $240,750

  13. Businesses need to be Upscale or DownScale • http://www.nytimes.com/2014/02/03/business/the-middle-class-is-steadily-eroding-just-ask-the-business-world.html • The top 5 percent of earners accounted for almost 40% of personal consumption expenditures in 2012, up from 27 % in 1992. • Largely driven by this increase, consumption among the top 20 percent grew to more than 60 % over the same period. • Bottom percent? Went from 47 to 39%.

  14. Businesses ‘Lost in the Middle’

  15. News

  16. Which are the Wealthiest States?

  17. Do celebrities matter? No so much..

  18. Top 10 Metro Areas for Wealthy Millenials

  19. The Millenial Online World.

  20. Mobile Devices Become Primary Entertainment Source

  21. Internet Adoption Rates

  22. What influences people to buy?

  23. News Advertising from the restaurants, clothing stores and consumer electronics categories are the most trusted with diet products, financial services, pharmaceutical and cars the least trusted.

  24. Source: http://research.yougov.com/ Least Trusted ads by business type….

  25. News • Soda sales collapse:

  26. More on ads….

  27. Many Countries seeing online Purchase growing.

  28. “Bad Brands”

  29. Who do you trust? – “Almost no one…”

  30. Suspicion is growing….

  31. There are only a few social media that matter overall…

  32. Who Uses Which Social Networking Platform?

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