Explain the three types of reference groups and their implications for marketers.

What will be an ideal response?


A membership reference group is the group to which a consumer actually belongs. Membership groups could include school clubs, fraternities and sororities, and the workplace. Marketers who understand the influence members of these groups have on consumers can target products aimed at group members. For example, a local bank near your university might offer free checks for students or a debit card featuring the school's logo. Purchasing such products might be seen by new students as a way to assimilate to their new reference group.

An aspirational reference group refers to the individuals a consumer would like to emulate. For example, professional athletes represent an ideal for many people. Subway made use of this reference group in its marketing campaign in the weeks leading up to the 2012 Summer Olympics in London. Subway commercials showed athletes, such as swimmer Michael Phelps, talking about Subway products as an important part of their training regimen.

Dissociative reference groups include people that the individual would not like to be like. Teenagers and young adults provide perhaps the most notable example of dissociative reference groups: They actively seek to dissociate themselves from groups they view as "uncool" or as something their parents might be interested in. But dissociative reference groups can play a role in marketing to all consumers. DIRECTV has run a series of marketing campaigns to encourage consumers not to be like those who have traditional cable television. 

Business

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Using liquidated damage clauses in delivery contracts is an example of mitigating strategy for ______.

A. security risks B. failure to deliver the needed services on time C. failure to realize the expected cost savings D. market risks

Business

All tax practitioners are governed by the AICPA's Code of Professional Conduct.

Answer the following statement true (T) or false (F)

Business

Which of the following is recommended during delivery of a presentation?

a. Watch the audience for feedback and make appropriate adjustments in the length and content of your speech. b. Stay behind the lectern, rather than causing distraction by moving around. c. Make eye contact with every person in the audience, even if only for a second. d. Keep breathing shallow and regular through your nose and mouth.

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Federal law prohibits selling any food that contains any impurities

Indicate whether the statement is true or false

Business