Companies nowadays face high competitive markets and very different needs and buying behaviors of consumers. It is therefore a reasonable strategy to segment all potential buyers into distinguished segments. In order to serve these segments more effectively, a company has to understand what the specific needs in such a segment are and how to satisfy them. It is essential that the process of serving a special market segments fits to the market. Otherwise the profits will suffer of lower revenues or higher costs.
When marketers seek for similarities within consumers they use age - and in a broader sense, generations – as a segmentation criterion. One of these generations is the so called “Generation Y”. Born between the beginning of the eighties and the mid nineties, this group cohort is today between fifteen and thirty years old. Nowadays they are coming into work life and are therefore a valuable customer segment with increasing buying power. It is said that this generation has its own set of needs and ways to buy. So it is interesting to analyze how the Generation Y can be reached by companies.
The creation of special customer value for Generation Y for Apollo-Optik will be discussed in this paper. Generation Y will be defined, as well as what is meant by customer value. The company Apollo-Optik will be presented with its products and markets served. Thereafter, this paper is going to analyze the Generation Y for Apollo-Optik with regard to different segmentation criteria. The creation of a special value for a homogenous segment will be discussed at the closing stages.
Inhaltsverzeichnis (Table of Contents)
- ABBREVIATIONS
- INTRODUCTION
- GENERATIONS AND GENERATION Y
- DEFINITIONS
- Generations and Generation Y
- Customer Value
- THE OPTICIAN COMPANY APOLLO-OPTIK
- The company
- Products
- Markets
- THE TARGET GROUP “GENERATION Y”
- MARKET SEGMENTATION
- GEOGRAPHIC SEGMENTATION
- DEMOGRAPHIC SEGMENTATION
- PSYCHOGRAPHIC SEGMENTATION
- BEHAVIORAL SEGMENTATION
- SEGMENTATION OF GENERATION Y
- CREATING SPECIAL CUSTOMER VALUE
- DECISIONS WHILE PURCHASING GLASSES
- A SUITED OFFER
- SUPPORTING THE PURCHASING PROCESS
- CONCLUSION
- BIBLIOGRAPHY
- Defining Generation Y and its unique characteristics.
- Understanding the concept of customer value and its application to Generation Y.
- Analyzing the company Apollo-Optik and its target markets.
- Applying different segmentation criteria to understand Generation Y's needs and preferences.
- Developing strategies to create special customer value for this specific generation.
- Introduction: This chapter provides a context for the paper, highlighting the importance of market segmentation and understanding consumer needs in today's competitive environment. It introduces Generation Y as a significant customer segment and sets the stage for exploring how to create customer value for this group.
- Generations and Generation Y: This chapter focuses on defining the concept of generations and delving into the specific characteristics of Generation Y. It discusses the influence of cultural factors on generations and highlights the unique needs and buying behaviors of Generation Y.
- Customer Value: This chapter defines the concept of customer value and specifically focuses on customer-perceived value (CPV). It explains how consumers make buying decisions based on a deliberation of costs and benefits, seeking to maximize their perceived value.
- The Optician Company Apollo-Optik: This chapter introduces the company Apollo-Optik, outlining its key offerings, target markets, and overall business strategy.
- The Target Group “Generation Y”: This chapter analyzes Generation Y as a target group for Apollo-Optik. It employs different segmentation criteria such as geographic, demographic, psychographic, and behavioral segmentation to identify the specific needs and preferences of this generation.
- Creating Special Customer Value: This chapter discusses the creation of special customer value for Generation Y within the context of Apollo-Optik. It explores key decisions made during the purchasing process for glasses and identifies strategies for supporting the purchasing process and offering tailored products and services to meet Generation Y's specific needs.
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper aims to explore the creation of special customer value for Generation Y, focusing on the optician company Apollo-Optik. It aims to understand the characteristics of Generation Y and how they can be targeted for successful marketing efforts. Key themes explored within the paper include:Zusammenfassung der Kapitel (Chapter Summaries)
Schlüsselwörter (Keywords)
This paper explores the key concepts of market segmentation, Generation Y, customer value, customer-perceived value, and the optician company Apollo-Optik. It delves into the distinct characteristics of Generation Y and their influence on purchasing decisions. The paper investigates strategies for tailoring products and services to meet the specific needs and expectations of this growing customer segment.- Quote paper
- Dipl.Kfm, Christopher Schroeder (Author), 2010, Creating Customer Value for Generation Y, Munich, GRIN Verlag, https://www.hausarbeiten.de/document/200220
