Demographic marketing ppt @ bec doms
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Demographic marketing ppt
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Demographic marketing ppt @ bec doms
- 1. Demographic Dimensions of Global Consumer Markets
- 3. Identifying Potential Markets 5-3 Money Growth Concentration Literacy Relative Buying Power Rate of Growth Population Density Communication Concerns Focus: Focus: Focus: Focus :
- 4. US Population Trends 5-4 Shifts to Suburban Areas Changing Household Composition Aging Population Birthrate Regional Differences ????? ????? ????? ????? ?????
- 5. Changes in U.S. Birthrate, 1935-2005 After a peak between 1950 and 1955, U.S. Birthrates declined steadily until 1975. Following a brief rise in rates finishing about 1990, rates have again begun to fall. Exhibit 5-5 5-5 1935 1970 2005 13 19 26 Birthrate 25.0 18.7 19.4 14.6 14.0 16.6
- 6. Median Family Income, 1960-1996 Long term income trends are important to marketing managers because strategy planning must take into account realistic growth potential. A narrow focus on a high growth period that extends a temporary rate too far into the future can ruin chances for long term success Exhibit 5-7 5-6 1960 1980 1996 $26K $34K $44K Median income
- 7. Income Distribution 5-7 Exhibit 5-8 Percent of Total Income Middle 20% Income Group Lowest 20% Income Group Top 20% Income Group 46.8% 10 20 30 40 50 4.2% 10.0% 15.8% 23.1% Percent of Total Income Going to Different Income Groups in 1996 $0 19,680 34,315 51,086 75,316
- 8. Consumer Spending Patterns Key Terms and Issues Disposable Income Expenditure Data Family Life Cycle Discretionary Income 5-8
- 9. Family Life Cycle Middle-aged divorced w/out dep. children Middle-aged divorced with children Young divorced with children Middle-aged married w/out dep. children* Middle-aged married with children* Young married with children* Middle-aged married w/out children Middle-aged divorced w/out children Young married x-child.* Young divorced w/out children Young single* Older married* Older un- married* Exhibit 5-9 5-9 Usual flow Recycled flow *Traditional family flow
- 10. Ethnic Dimensions of the US Market 5-6 Buying Behavior Median Income Growth Accurate Target Growth Rate
- 11. Key Terms Disposable Income Discretionary Income Empty Nesters Senior Citizens Gross National Product (GNP) Birthrate Metropolitan Statistical Area (MSA) 5-11
Notes de l'éditeur
- Summary Overview Identifying important market dimensions involves verifying the existence of key market success factors. Demographic information -- facts about income, population levels, growth and concentration, and changing patterns of family structure -- help marketers make better decisions in locating and serving target markets. Important Market Dimensions Money . Markets consist of people with money to spend. This is more than a measure of income because the cost of living varies from location to location. Marketers must know how much money a market makes and how much of that income is available for the kinds of products the company offers. Growth . The current size of a potential market is important of course but whether a given market is growing and how fast is perhaps more important for long term planning. This is a key reason that more and more companies are considering global markets. In the US and most of the industrialized Western European countries, market growth is very slow. But in Eastern Europe, Asia, and Africa, most countries are experiencing rapid population growth. Some of these countries make excellent target markets. Concentration . How densely populated a potential market is has important implications for marketers. Highly concentrated markets are easier to serve logistically for a number of reasons. First, they simply have more people in a single location. Secondly, highly concentrated urban centers tend to have more of the modern infrastructure of roads, railways, and shipping that facilitates physical distribution. Literacy . The level of reading and writing present in a country, expressed as a percentage of the total population is important. For marketers, low literacy levels have profound effects on promotion and packaging, especially labels, activities that typically rely on printed words. Assuming such markets are otherwise viable, marketers must adapt symbols and pictures to communicate necessary product information successfully. This slide relates to the material on pp. 125-133. See Transparency 38 and Overheads 48-49.
- Summary Overview Population trends in the US are important because of the sheer size of the country’s economy (GNP > 7.1 trillion dollars!). But even here, growth, not just size is of key importance. Since growth rates vary from state to state, and among subgroups that can be segmented by age, family life cycle, ethnic group, and other factors, marketers need to have accurate, up-to-date information on population trends in the US market. US Population Trends Regional Group Differences . Not all areas of the country are changing the same way or at the same speed. California, the most populous state is also growing quickly. But the “old East Coast” still has the largest concentration of population by region. Even so, its growth rate is declining while the relatively “empty” West (mountain states) is growing very rapidly. The Northwest shares with the West the greatest growth. The Sunbelt continues to grow but not as rapidly as in the last two decades. Discussion Note: Point out that even within these trends, important exceptions occur. Atlanta, GA, for example, continues to grow at a high rate (+1000 people every other day!) while the rest of Georgia might be a little behind the average for the Sun Belt. Birthrate . The birthrate is measured as the number of babies born per 1,000 people. The US “baby boom” is in turn having fewer children. This declining birthrate means slower market growth but higher disposable income per person in those markets. See following slide The Aging Population . Lower birthrates mean the average age of Americans is higher. Household Composition . Couples with no children under 18 at home account for more than half of all households. Single-adult households account for another one-quarter. More unmarried couples are present than ever before. Marketers must adjust packaging and product forms to meet these new household configurations. Shifts to Suburban Areas . As people left cities for suburbs, retailers followed. Now marketers concentrate less on cities per se and more on Metropolitan Statistical Areas (MSAs) - an integrated economic and social unit with a large population nucleus. This slide relates to the material on pp. 134-141. See Transparencies 39-40 and Overhead 50.
- This slide relates to the material on pp. 136-137. Instructor’s Note: This slide corresponds to Exhibit 5-5 on p. 136 and Transparency 41. See also Transparency 42. Summary Overview The birthrate is measured as the number of babies born per 1,000 people. The U.S. “baby boom” is in turn having fewer children. This declining birthrate means slower market growth but higher disposable income per person in those markets. The U.S. birthrate hit a low in 1976 and then rose again--but only slightly. From 1980 to 1990 the birthrate was between 15 and 17. It is starting to drop again now, and this trend should continue--with an estimated birthrate of about 14.2 around the year 2000.
- This slide relates to the material on pp. 141-142. Instructor’s Note: This slide corresponds to Exhibit 5-7 on p. 142 and Overhead 51. Median Family Income (Real) median income stopped its continuous rise during the 1970s. Since then, it has gone through periods of both upswings and decreases. But the changes in recent years have not been as great as a few decades ago.
- Summary Overview How income is distributed within a given population is extremely important. Very high income groups can afford virtually anything but constitute a relatively small market. Middle income groups offer the largest market base but only if their income growth is sustained over a long period of time. Income Dimensions of the US Market Growth in Middle and High Incomes . Over the last fifty years, real income growth in the US has increased to the point where even those in the lowest income groups can afford a comfortable standard of living. The proportion of people with middle incomes is much larger in the US than in most countries. Median Income Declines . (Real) median income stopped its continuous rise during the 1970s. Since then, it has gone through periods of both upswings and decreases. But the changes in recent years have not been as great as a few decades ago. A key concern is the loss of high-paying manufacturing jobs and their replacement with lower-paying service jobs. Discussion Note: Some researchers distinguish this trend more finely. While manufacturing jobs are declining, service jobs can be further divided into high-technology, information-based jobs requiring a highly educated, highly skilled workforce and low paying, unskilled labor service jobs. The first type pays very well, better than the lost manufacturing jobs, but there are fewer of them. The second pays considerable less than the lost jobs -- sometimes only half as much. This creates what is called a “bi-modal workforce” in the service jobs sector. Higher-Income Share . In 1996, US median income was $42,300. The top 20 percent of families -- those with median incomes over $75,316 -- received 47 percent of all income. The top 5 percent of families -- those with incomes over $128,000 -- received more than 20 percent of all income. The lowest 20 percent -- the almost 14 million families with median incomes less than $19,680 -- received only 4.2 of all income. This slide relates to the material on pp. 141-143. Instructor’s Note: This slide corresponds to Exhibit 5-8 on p. 142. See also Overheads 52-53.
- Consumer Spending Patterns: Key Terms and Issues Disposable Income . Disposable income is what is left to the family after taxes. Family expenditures are figured from disposable income. Further, not all families spend all of this disposable income; they may save or invest some. Discussion Note: The US savings rate is among the lowest in the industrialized world. Discretionary Income . Discretionary income is what is left of disposable income after paying for necessities. Like disposable income, this too can be hard for marketers to identify because families differ on what they consider necessities. Even “basic” necessities such as food, clothing, and shelter, take on different product forms that in turn may vary in cost. Marketers are very much interested in identifying and targeting high discretionary income groups, such as single or newly married professionals with no children and no house mortgage. Expenditure Data . The Bureau of Labor Statistics (BLS) and the US Census Bureau publish comprehensive and easily available data on family spending. Family Life Cycle . Families progress through identifiable stages that have implications for the number and types of products that they need. Note: See following slide on the stages in the family life cycle. This slide relates to the material on pp. 144-147 and Overhead 54. See also Overhead 55. Summary Overview Understanding consumers often means looking at families. Family income is important because so many people live in families and most of their purchase decisions are affected by the family structure and how it changes over time.
- Summary Overview Understanding consumers often means looking at families. Family income is important because so many people live in families and most of their purchase decisions are affected by the family structure and how it changes over time. Family Life Cycle Families progress through identifiable stages that have implications for the number and types of products that they need. The high divorce rate in the US (over 50%) complicates this picture somewhat but it still provides marketers with a valuable view of family needs. Within the family life cycle, different groups behave differently. For example: Young. Young singles and young marrieds are more likely to try new products. Teens. Teenagers, especially in more affluent families, have large discretionary incomes. Empty Nesters. Aged between 50-64, these couples have grown children and can now spend more on themselves. Senior Citizens. Aged over 65, this group is more affluent than ever and is growing rapidly. This slide relates to the material on pp. 145-147. Instructor’s Note: This slide corresponds to Exhibit 5-9 on p. 145 and Transparency 44. See also Transparency 43 and Overhead 56.
- Summary Overview Ethnic subgroups are an important source of new markets in the US. This is especially true because most ethnic groups (non-white or non-European descent) are growing faster than the traditional white population. Ethnic Dimensions in the US Market Buying Behavior . Ethnic groups often buy and consume products in behaviorally different and important ways. Marketers seek to identify these differences and adjust their marketing mixes to better meet the needs of ethnic target markets. Increasing Median Incomes . While ethnic groups as a whole still trail white Americans in median income, that picture is changing. Moreover, that change offers important new marketing opportunities. For example, over 21percent of Black families have median incomes over $50,000 and a third of those are making more than $75,000. This is an important income segment that can be further targeted by ethnic identity. Growth Rate . Ethnic populations are growing more rapidly than the US population as a whole. Asian-Americans almost tripled their numbers between 1980 and 2000 and now number about 10 million. Hispanic-Americans now number 29 million and should reach 41 million by 2010 -- making them larger than African-Americans at that time. Targeting Ethnic Groups Accurately . From a census point of view, “Asian-American” may be sufficiently clear, but marketers must distinguish target markets more carefully. Chinese-Americans don’t respond to the same ethnically-designed marketing mix as Japanese-Americans. Marketers must avoid broad stereotypes that mislead, even offend. Discussion Note: By one estimate, Asian-Americans comprise over forty different combinations of nationality, culture, language, and religion! This slide relates to the material on pp. 147-149.