Which generational demographics will you target

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Reference no: EM13823566

Principles of Marketing

CONCEPT:

As the marketing director of a major makeup manufacturer looking to expand, you've been directed to pick the U.S. target market, based purely on demographics, which will allow you to experience the fastest growth. You research the social forces of the marketing environment and base your decision on population trends and changing societal values that will generate the greatest opportunity for your company.

CONCEPT REVIEW:

Describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as demographics. Several organizations such as the Population Reference Bureau and the United Nations monitor the world population profile, while many other organizations such as the U.S. Census Bureau provide information about the American population.

The demographics of the world are changing. Even though the United States' proportion of the world population is declining, the total U.S. population is projected to increase from 310 million people in 2010 to 373 million in 2030. This growing U.S. population is becoming older and more diverse.

Today, there are 40 million people 65 and older; by 2030, this age group will include more than 72 million people, or almost 20 percent of the population. At the same time, the structure of the American household is changing. Compared with 75% in 1960, today only 50% of households consist of married couples; only 25% of those married couple households have children, and only 10% of households have working fathers with stay-at-home moms. The fastest growing households are those with a single person, a single parent, or unmarried partners. Blended families are becoming more and more common; one of every three Americans is a stepparent, stepchild, stepsibling, or some other member of a blended family.

There is a major shift in the U.S. population toward Southern and Western states, with 7 of the top 10 most populous states bordering Mexico. Today, 30 percent of all Americans live in central cities, 50 percent in suburbs, and 20 percent in rural locations. Between 2008 and 2025, the Hispanic population will grow to almost 20% of the U.S. population, and two-thirds of Hispanics live in Florida, Texas, and California. The number of Asians will double to 7% of the U.S. population, and African Americans will represent 13 percent.

Regarding the changing attitudes and roles of men and women, today's Generation Y, with career mothers, organized sports, and the Internet, have no collective memory of the vast differences in buying patterns of men and women from previous generations. Increasingly, Americans value protecting the family, honesty, preserving the environment, and deep concern for obtaining the best value, even to the point of asking for discounts off of advertised rates.

Assignment Question:

1-Geographically, which region do you suggest your company target?

2-Which generational demographics will you target?

3- In which area of the state will you attempt to achieve the greatest distribution?

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Reference no: EM13823566

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