Importance to marketing manager of current demographic trend
Explain the importance to marketing managers of current demographic trends. Today, several basic demographic patterns are influencing marketing mixes. Because the U.S. population is growing at a slower rate, marketers can no longer rely on profits from generally expanding markets. Marketers are also faced with increasingly experienced consumers among the younger generations such as tweens and teens. And because the population is also growing older, marketers are offering more products that appeal to middle-aged and older consumers.
1. Baby boomers in America are aging. Describe how this might affect the marketing mix for the following:
a. Bally’s Health Clubs
c. Whirlpool Corporation
d. The state of Florida
e. Target stores
2 .You have been asked to address a local Chamber of Commerce on the subject of “Generation Y.” Prepare an outline for your talk.