John Quelch, a Marketing Professor from Harvard Business School in a recently published HBR article argued that in a recession, consumers should be segmented by how they emotionally react to this challenging environment than by demographics. He identified 4 types consumer groups based on their reactions to the recession:
- Slam on the breaks
- Pained but patient
- Live for Today
- Comfortably Well placed
If i look around, i can see all these types in my office alone. There are people who have suddenly stopped eating out, some who have cut down on spending and others who are'nt affected at all.
As for the" Live for Today" group, the Professor says that this group will continue their pre-recession lifestyle until they lose their jobs.
May this tribe increase and not lose thier jobs, so that there is spending and we can get out of the recession..
1 comment:
heehee...sounds like a prayer for yourself than a wish for others! ;)
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