Ch. 6 - The Domestic Marketplace (Lesson)

Chapter 6
The Domistic Marketplace

Biglerville High School
Mrs. L-K. Smith

Chapter Overview

For businesses to be successful, they must know who their customers are. In other words, they must know their marketers. This chapter is designed to introduce you to the U.S. marketplace and the different ways businesses classify and characterize its segments.
In the very broadest sense, there are two basic markets for products–a consumer market and an industrial market. As you move through this lesson, we will distinguish those two markets. You will learn how businesses identify their opportunities within both markets.

The Consumer Market

The Consumer Market involves all people who make purchases for personal use.

Currently the U.S. population is about 346 million.

Businesses need to examine the current makeup is, based on demographic variables.

Get to know the Generations



(There is a built-in quiz on this information)

Age - People are classified by Generation

• The Lost Generation - born between 1883 - 1900

• The Greatest Generation - born between 1901 - 1924

  • the youngest are 100 years old

• The Silent Generation - born between 1925 - 1945

  • currently between 79 and 100 years old

• Whoopies

(Thompson, V. (2021, March 15). Generation names explained. The Daily Free Press. https://dailyfreepress.com/2021/03/15/generation-names-explained/)

The "Younger" Generations

• The Baby Boomer Generation – born 1946 - 1964

• Generation X – born 1965 - 1981

• Generation Y – born 1981 - 1996

  • AKA: The Millennials

The "Youngest" Generations

• Generation Z – born 1997 - 2012

  • AKA: "iGen"

• Generation Alpha – born 2013 - 2025

Multiple Choice

Of all the generational groups, which is the OLDEST and first named group?

• Baby Boomers

• The Silent Generation

• The Lost Generation

• The Greatest Generation

Multiple Choice

How many official Generations have been named?

• 4

• 6

• 8

• 10

Multiple Choice

Which generation is the largest of all the generations?

• The Silent Generation

• Generation Y

• Generation Alpha

• Baby Boomer Generation

Multiple Choice

Of all the generations, which is the smallest?

• Generation X

• The Silent Generation

• Generation Alpha

• Generation Z

Multiple Choice

Which generation saw the fall of the Berlin Wall, the first PCs, and an emphasis on education?

• Generation X

• Generation Y

• Generation Z

• Baby Boomer Generation

Multiple Choice

Which generation is also known as Baby Busters?

• Generation Z

• Generation X

• Generation Y

• Baby Boomer Generation

Multiple Choice

Which generation is also known as iGen?

• Baby Boomer Generation

• Generation X

• Generation Y

• Generation Z

Multiple Choice

Which generation is also known as Millennials?

• Baby Boomer Generation

• Generation X

• Generation Y

• Generation Z

How do you best target each Generational market?
(There is a built-in quiz on this information)

Whoopies

• Easy-open bottles

Marketing to them

• Primarily women

• Poor health

• Less mobility

• (for some) complete disability

• Shopping & driving is becoming difficult or unsafe

• Prime targets for nursing homes or home health care

Characteristics

Baby Boomers

• Luxuries

• Recreation Items

Marketing to them

• Income and spending power is increasing

• Many are newly retired, or about to retire

Characteristics

Generation X

• Cosmetics

• Fashionable clothing

• Movies

• Electronic items

• Use sharp images, music a sense of humor and a little irreverence

Marketing to them

• Know as latchkey children who grew up to be self-sufficient as they were the first generation to have both parents working outside the home

• High level of education

• Financially cautious & conservative

Characteristics

Generation Y (aka: Millennials or Baby Boomlets)

• Be authentic

• Be transparent

• Personalize

• Use interactive content

• Collaborate with thought leaders

• Use email marketing

• Seek to know "whats in it for them"

Marketing to them

• Tech savvy - first to grow up with technology

• Welcome diversity

• Collaboration (over competition)

• Seek work-life balance

• Invest in Self-care

• Socially & Environmentally conscientious

• Shorter attention spans

Characteristics

Generation Z

• Collaborate with Influencers

• Use video

• Emphasize authenticity and transparency

• Build community

• Personalization

• Gen Z wants to buy from brands they trust

• Target Gen Z's favorite social media platforms

Marketing to them

• Pragmatic

• Tech savvy

• Inclusive

• Socially active

• Entrepreneurial

• Environmentally conscious

• Love to travel

• Prioritize saving money

Characteristics

Generation Alpha

• Incorporate Augmented Reality (AR) and Virtual Reality (VR)

• Incorporate Gamification

• Personalized Learning experiences

• Significant purchasing power (due to parental indulgence)

Marketing to them

• "Digital Natives"

• Spending hours and hours in front of screens

• First generation to not know a technologically-connected world

• Hyper-connected

Characteristics

Match

Match the following

• Gen Alpha

• Whoopies

• Gen Y

• Baby Boomers

• Gen Z

Born 2013-2025

Born 1883 - 1945

Born 1981-1996

Born 1946-1964

Born 1997-2012

• Born 2013-2025

• Born 1883 - 1945

• Born 1981-1996

• Born 1946-1964

• Born 1997-2012

Multiple Choice

For which generation should you incorporate using AR and VR?

• Gen Alpha

• Gen Z

• Gen Y

• Gen X

Multiple Choice

For which generation should market luxuries and recreation items?

• Gen Z

• Gen Y

• Gen X

• Baby Boomer Generation

Multiple Choice

For which generation should influencers be utilized to reach them?

• Gen Z

• Gen Y

• Gen X

• Baby Boomer Generation

Multiple Choice

For which generation should gamification be utilized to reach them?

• Gen Z

• Gen Alpha

• Gen X

• Baby Boomer Generation

Nice Job!

You are now going to find a partner and complete the first half of the Ch. 6 The Domestic Marketplace Escape Room!

Your goal is to work with your partner, not let any of the other teams know the answers to the clues you have solved, and be the first ones to ESCAPE!

Go to Google Classroom, open the