MarketingTest2 - 20:12:00 CHAPTER 5(TEST 2 Appealing to the mature Lipstick ad Targeting older women Consumer demographics a nation of 300 million

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26/02/2008 20:12:00 CHAPTER 5 2/4/08 (TEST 2) Appealing to the mature Lipstick ad Targeting older women  Consumer demographics a nation of 300 million a milestone in the offing: o 300 million Americans come mid-October, 400 million by 2040 o immigration, longevity, high birthrate, relative economic stability o makes US world’s 3 rd  most populous country after China and India o increase of 100  million since 1967 53% of which are recent immigrants and their descendants o 8500 new Americans every day   why are we doing this in a marketing class? o Demographics The nation is getting older; oldest baby boomers turning 60 this  year Avg. life expectancy= 77.9 years Hispanic market—largest ethnic market group in places like  Central Texas Small towns rapidly developing into big cities
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Factors like household wealth, avg. family size, net income to  be considered o Future marketing initiatives more complex Submarkets example: different types of bears Trends in US households and families Married couple without children Single adult households Traditional family  High divorce rate Unmarried living together  Today: getting married later and delay childbirth  50% get divorced Over 80% of divorced people marry again  Changing US income patterns Much of change is tied to events of economy: 9/11 More middle and upper income households Inflation is bringing down the middle income and bringing up the upper  income Need to understand those changes and market our product toward it Appealing to higher income consumers: Pedigree Income dimensions of the US Market Bar graph Top 20% of households receive almost half of the total income of the US
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Lower 20% receive only 4% of the total income of the US The family life cycle Understanding consumers often means looking at families  Key issues o Acceptance of new ideas o Reallocation for teenagers o Senior citizens o Empty nesters Ethnic dimensions of the US market Ethnic subgroups are becoming a more important part of the US marketplace  because they are growing fast Buy differently Increasing median income Avoid stereotypes High growth rate we live in a salad bowl not a melting pot Appealing to minority consumers GM ad  FRIDAY 2/8/08 Targeting customers Demographic variables include o Age
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o Income o Ethnicity  o Cultural values Monitoring demographic shifts allows marketers to: o Identify market segments o Forecast product sales o Select media for reaching customers Changing age structure Relentless aging in America! Median age of Americans has gone from 
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This note was uploaded on 04/22/2009 for the course MKT 320F taught by Professor Miller during the Spring '08 term at University of Texas at Austin.

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MarketingTest2 - 20:12:00 CHAPTER 5(TEST 2 Appealing to the mature Lipstick ad Targeting older women Consumer demographics a nation of 300 million

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