of their profitability and failed to stay ahead of the consumer
curve and the incessant changes in desire and demand of their
markets. When that happens, inventories rise as customer demand
shifts to new and more attractive product offerings by competitors,
discounts are offered to move products, and per unit profits fall.
The message that the corporate event marketer conveys must re-
flect the challenges of overcoming this regression—and righting
the ship—and the strategic plans of management for accomplish-
ing this.
This is no less true for the association event marketer. Associ-
ation memberships should reflect the industries and professions
that they represent. Be alerted that there is no guarantee that they
do, without an effective marketing plan to continually analyze
changes in market segments and the direct influence they have on
event participation. A striking example of this is the growth of
megastores in the retail industry, dramatically (and often woe-
fully) changing the landscape of the memberships that support the
associations representing them. In the hardware industry, thou-
sands of small family-owned stores have disappeared as huge re-
tail outlets have opened either in malls or as stand-alone retailers
throughout the United States. The same can be seen in the drug
retail industry, the printing industry, the office supply industry,
among many others.
Bear in mind that, as years go by, certain types of consumers
and their values fade as new ones emerge. These “psychographic”
profiles, used to identify buyer values and priorities, will often in-
fluence the decision whether or not to buy, attend, and participate.
For example, the World War II and Baby Boomer generations
have been identified by their value of long-lasting relationships,
institutional and personal loyalty, permanent relationships, and
patience. A chat over the nuts and bolts in the hardware store may
not have been efficient or time effective, but was long a valued and
venerable phenomenon of the community psyche throughout the
nation and its towns.
Now emerging in the marketplace are the maturing Generation
Xers and evolving Generation Next markets. They present charac-
teristics that are markedly different. Raised in the instant-response
environment of faxes, e-mails, and online messaging, they expect
instant results. They, in large measure, don’t want to “wait in
line.” They scoff at “snail mail.” In general, they are multitaskers
How to Improve Your Event Marketing Segmentation Skills 179