Abstract
ABSTRACTThis study identifies and profiles market mavens among the baby boomer generation in the United Kingdom. Boomers are an important market segment, yet most advertising targets younger audiences, making word-of-mouth communications crucial among this older cohort. Findings suggest boomer mavens place great importance on ‘respect’ values, are particularly concerned with fashion and compared with non-mavens are more likely to try new brands, watch more television, hold positive attitudes towards advertising and seek out bargains. The study is useful to those businesses wishing to target a mature consumer who people perceive as a good source of marketplace information and who likes introducing new brands to others.
Highlights
Since its conception (Feick & Price, 1987), a substantial body of knowledge pertaining to market mavenism has developed, resulting in increased understanding of the concept
Progeny has never before been considered in relation to market mavenism, and these results suggest that family make-up and decision-making processes among mavens is clearly worthy of further investigation
Despite a wealth of information pertaining to the spending power of baby boomers, marketers and advertisers have been slow to target this potentially lucrative segment
Summary
Since its conception (Feick & Price, 1987), a substantial body of knowledge pertaining to market mavenism has developed, resulting in increased understanding of the concept. Market mavens are ‘individuals who have information about many kinds of products, places to shop, and other facets of markets, and initiate discussions with consumers and respond to requests from consumers for market information’ Market mavens are active purveyors of word-of-mouth communications. The importance of word-of-mouth communications cannot be underestimated. Market mavens are characterised by an extraordinary level of marketplace knowledge and experience and a desire to share this information with others (Feick & Price, 1987)
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