Assessment - Written assignment
Assessment Description-
Introduction-
A common approach to identifying markets uses "demographic" characteristics of customers - such as age, sex, race, education, occupation, geographic location, income, marital status and family size. The popularity of demographics is due to the fact that such characteristics are easily measured, easily understood, and readily available in published form. Demographic characteristics are very useful for identifying market segments, planning appropriate marketing mixes and estimating market potential. This assignment will stress another major uses of demographic - to monitor changes and trends in the cultural and social environment to find new market opportunities.
PART A-
Describe how the major industries of 1) Vacation in Australia and New Zealand 2) Cosmetic and 3) Pre-cooked food are affected by the effects of the demographic trends listed below (positive and/or negative effects):
A) Present longer life span of senior citizen.
B) The Baby boomers generation who are approaching retirement but with money to spend.
C) Generation Y with a growing family household and a huge mortgage (need to be tight with money).
D) Present smaller family unit and more "single adult" households.
PART B-
Name some other important demographic trends. How might these trends affect the three industries in the assignment?
NOTE: It is envisaged that students will use resources outside the institute's library in researching the assignment.
Report sections: The key sections to be included are: Executive summary; Understanding of demography and the usage of the various products by the various demographic groups and trends in demography: Bibliography and Referencing.
Textbook - Consumer Behaviour 6th EDITION by Leon Schiffman, Aron O'Cass, Angela Paladino and Jamie Carlson.
Word: 1300
Harvard Style
Number of ref: above 7.