MKT 320F 2-8 Notes - -Hispanic, any race - 12.5%-Black, not...

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Foundations of Marketing 2/8/08 Targeting customers Demographic variables include -Age -Income -Ethnicity -Cultural values Ex: smart cars targeting young people Monitoring demographic shifts allows marketers to: -Identify market segments -Forecast product sales -Select media for reaching customers Ex: marketing to Hispanic population - radio vs. tv Article: candidates are locked in intense battle for Latinos Changing age structure Relentless aging in America! Median age of Americans has gone from: -28 in 1970 -30 in 1980 -33 in 1990 -36 in 2000 *Expected to reach 38.5 in 2025 Baby Boomers -76 million Americans born between 1946 and 1964 -“Boomers” now 40-58 years old -Maturing of boomers is one of the biggest demographic developments for marketers -Attractive market to sell to because it’s affluent, searching for youth -Can market luxury goods like cars -Buyers of investments, real estate -Expensive skin care products -Exercise machines -Health food Ethnic population developments -White, not Hispanic - 71%
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Unformatted text preview: -Hispanic, any race - 12.5%-Black, not Hispanic - 12.3%-Asian and Pac Rim - 4%-American Indians - 1% Marketing diversity and targeting film Census 2000 Grown by 27 million people between 1990 and 2000 Aged Ethnic composition Toyota Body Glove Lego/Legoland Buying power of minorities $572 bil African American $452 bil Hispanic $253 bil Asian Article: Cingular, Hispanic executives, targeting the market Economic needs - best use of time and resources Psychological influences within an individual Needs: basic forces that motivate person to do something - hunger Wants: learned needs, wanting a specific thing - Dirtys hamburger Drives: stimulus encouraging you to take action - hunger pains Several needs at the same time: PSSP Hierarchy of Needs Physiological needs - biological Safety needs - protection and well-being Social needs - drive from a persons interactions with others Personal - personal satisfaction, self-esteem...
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This note was uploaded on 04/06/2008 for the course MKT 320F taught by Professor Miller during the Spring '08 term at University of Texas at Austin.

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MKT 320F 2-8 Notes - -Hispanic, any race - 12.5%-Black, not...

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