Case Scenario:
You have been asked by a close friend, a kitchen design and installation specialist, for some help in setting up a new business. Your friend has inherited a substantial sum of money and has decided to open his own kitchen design and installation business in Palm Beach County, Florida. He intends to focus his marketing based on the age and generational characteristics in his new community. He has asked you to help him find information on Millennials (Generation Y), those people between the ages of 20 and 34, Generation X, those people between the ages of 35 and 49, and Baby Boomers, those people between the ages of 50 and 69.
Problem 1: What are three generational insights or characteristics of each of these segments of the population in Palm Beach County, FL?
Problem 2: What was the population in Palm Beach County, FL, for each of these segments of the population, in 2010?
Problem 3: What was the projected population in Palm Beach County, FL for each of the segments of the population, in 2013?
Problem 4: Which of these segments of the population had the greatest change, by percentage, between 2010 and 2013 in Palm Beach County, FL, and are these changes positive or negative?
Critical thinking question: Based on what you have learned in your research into these segments of the population in Palm Beach County, FL, would you recommend that your friend establish a kitchen design and installation business in Palm Beach County, FL? Would you recommend that your friend focus his marketing efforts, including setting up a very expensive showroom, on a particular segment of the population in Palm Beach County, FL? What is your reasoning and, if the response is positive, which segment would you recommend?