The Consumer Value Framework: Introduction

Consumer segments play a vital and sometimes surprising role in marketing. In the United States, women account for 85% of overall consumer spending (Marketing to Women Conference, 2015). The number of minority-owned businesses has increased to 5.8 million, employing nearly 6 million workers and generating in excess of $1 trillion in sales (U.S. Census Bureau, 2012). These facts are reflective of a growing trend, and the growth in women-consumer spending in particular has sparked industries like construction and manufacturing to more aggressively target women consumers.

Consider the paint industry. For example, Sherwin-Williams (S-W) utilized this type of data, along with internal research, to develop a new marketing program aimed at women. Instead of selling paint and paint-related products to men, S-W began to sell home decorating ideas, wall coverings (including wallpaper and paint), and related products to women. S-W also brought in a talented marketing communications (MARCOM) professional named Bob Wells, to spearhead the change. Thus, the advertising campaign theme of "Ask How, Ask Now, Ask Sherwin-Williams" was created in 2009. The 2011 and 2013 campaigns, “Color in Motion” and “Oh, the Places You’ll Go,” respectively, continue to address the NABs of women as well as men. The focus of this chapter is the consumer value framework and its components.