DM 272 1st Edition Lecture 16Outline of Last Lecture I. Personalitya. Freudian theoryb. Sociopsychological Theoryc. Trait TheoryOutline of Current LectureI. DemographicsII. Trend AnalysisIII. Age SubcultureCurrent LectureDemographicso age o gendero incomeo occupationo educationo religiono race/ethinicityo family sizeo family life cycle- Why look at demographics?o Market segment descriptors Most popular bases for distinguishing customer groupso Trend analysis: to predict changes in demandTrend AnalysisThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- How many babies will be born- Birthrate: number of live births per 1000 population in a yearo 1. Niger (46.12)o 2. Mali (45.53)o 91. Mexico (19.02)o 150. US (13.42)- How long will people live?- Life expectancy at birth: the average number of years lived by a group of people born in the same year. o 1. Monaco (89.57)o 2. Macau (84.48)o 14. Canada (81.67)o 38. Taiwan (79.84)o 42. US (79.56)- Life spans shrink for least-educated whites in the uso White women w/ a high school diploma (73.5)o White women w/ a college degree or more (83.9)o White men w/ least education (67.5)o White men w/ a college degree or more (80.4)- Cohort analysis: to examine behavioral patterns, lifestyles, and attitudes that are shared by most people in a specific groupo Assumption: consumers’ decision processes and brand/retailer preferences change in age distribution o Distributiono What is an age cohort? People of similar ages who have undergone similar experiences- Common memories about cultural heroesDemographics-Age Subculture- Tweens (GenZ)o Born 2003 or latero 27 million aged 8-14 spent $14 billion a year on clothes, CDs, movies, and other “feel good” productso Highly participateso Highly connectedo Achievement oriented- GenY Ecoboomerso Born between 1986 and 2002- 1/3 of the US populationo Believe in the value of fitting in rather than rebelling Social shopping is preferredo Less brand loyal and more accepting of generic labels Focus on Harry Potter and Lord of the Ringso Highly involved w/
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