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Agenda
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1:45 - 3:45 PM
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SESSION 3: NEW PERSPECTIVES
Chair: Nada Nasr, Bentley College
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Glen Urban, MIT
Customer Advocacy - The Start of a New Paradigm in Marketing
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Mohan Sawhney, Northwestern University
Marketing in a Connected World
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Stephen Haeckel, Adaptive Business Designs
Designing a Business From the Customer Back
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David B. Wolfe, Wolfe Resources, Inc.
Marketing to the New Customer Majority
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A reporter asked the famous bank robber Willie Sutton, "Willie, why do you rob banks?" He answered, "Because that's where the money is." The New Customer Majority - adults 40 and older - is where the money is in consumer markets. They outnumber younger adults 128 to 85 million, and account for 70% of consumer spending. The sweet spot in marketing over the next decade is the 45-64 cohort, consisting mostly of boomers. It's growing by 16 million in this decade compared to a 4.3 million decline in the number of 18-39-year-olds. But the sweetest spot of all is women who account for 80% of consumer spending, begin becoming decisively more numerous than men in the 40s, and by 65 represent nearly 60% of all 65-year-olds. This session shows how most marketing has either ignored or alienated these key customer groups, and explores the values, needs and motivating influences of the only markets that are growing: the New Customer Majority and women's markets.
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Q&A / Discussion
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3:45 - 4:00 PM
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Coffee break
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