With 2,592 unique craft brands sold Millennials—and all persons of legal drinking age—enjoy a stunning and sometimes bewildering array of lagers, pilsners, IPAs, stouts, pale ales, sours, and porters. They can be malty, hoppy, clear, dark, spicy, citrusy, or taste of coffee, toffee, nuts, cloves, bananas, and bittersweet chocolate. And we’re just scratching the surface. Millennials, we’re told, love choice. Marketers are told, “give them choices.”
Giving choices is one thing … but no guarantor of marketing success. We need to know why a person chooses—or doesn’t choose—a marketer’s offering.
Millennials … Why Do They Prefer One Beer—And Buy One Beer—Over Another When There are So Many to Choose From?
That’s the question my colleagues Howard Moskowitz, Kimmy Lee, and Helena Bollini will answer through two cognitive economics studies that are now in the field: one on microbrews, the other on macrobrews—the big-company “golden suds” lager beer like Budweiser, Miller, and Coors that is the most popular style worldwide.
When thinking about Millennials and beer, the issue is this: Generations may shape demand for beer, but they don’t buy beer: Individuals buy beer … one bottle, one draft, one six-pack, or one case or keg at a time. And individuals differ from one another. People may look alike on the outside and share some common traits, but they differ on the inside—the ideas they hold, what interests them, and what motivates them to buy. Discovering those “inside differences” and then exploiting them for product development, innovation, marketing, and sales are keys to brand growth and profitability. Hence, our research.
Discoveries We Will Make about Millennials and Beer
Using the Mind Genomics and Cognitive Economics research tradition, we expect to make a number of discoveries, which are:
- Identifying the different mindsets MIllennials hold toward microbrews and nationally distributed macrobrew lagers like Budweiser, Coors, and Miller?
- Within each mindset, specifying which elements of beer increase interest, decrease interest, or have no effect … and by what amount?
- In dollars and cents, what is a Millennial willing to to pay for what interests them in microbrews or macrobrews?
- What are the narratives that each mindset has towards microbrews or macrobrew lagers?
- Guided by the narratives … What does a brand say—and who does it say it to—to bolster a brand’s chances for success in the market.
- Approaches a beer marketer can take to accurately assign any single Millennial or millions of Millennials to a mindset segment using an algorithm produced by inputs from the research … enabling them to target individuals with personalized, tailoring messaging?
Aspects of Beer We are Studying
The elements included in the two studies are in these areas: style, taste, appearance, mouthfeel, finish, food, origin, packaging, presentation, promotion, and emotions.
Demographics, Attitudes, Media, and Consumption
Our research captures Millennial demographics; their attitudes towards beer and beer occasions; their social media use regarding beer; and patterns of consumption. The data will be analyzed and cross-tabulated with the mindset data.
Millennials, Mindsets, Microbrews … and Golden Suds – the book, will be Available in Q3 2015
The book will be available as an e-book during Q3 of 2015. This title is one volume in our series Millennials, Mindsets, and Money.
Millennials, Mindsets, and Money … A Series of Books on the Consumer Economy
Millennials, Mindsets, and Money (M3) is a series of books developed by me and Howard Moskowitz, with contributions from colleagues in the business world and academia.
M3 researches categories that are essential to the consumer economy from the Millennial perspective. Each book tackles an area and answers the six questions above. Our initiative primarily concerns advertised categories that are part of the everyday experience of Millennials.
You Can Sponsor Category Research in Millennials, Mindsets, and Money
Brands targeting Millennials who are interested in cost-effective and fast ways to grow their business are invited to sponsor a category study. Please
email me for details.
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