team evaluation
Demographic Environment
The demographic environment includes many factors such as age, gender, family status, race, education and the community in which a person lives. A change in age distribution is a demographic force that will affect the organizations in the automotive industry. Over the years the main target group has shifted from the old generation the “baby boomers” to the next generation of customers, Generation Young or “echo boomers”. Generation Y is know as people born between 1977 and 1994, they have grown up with computers so they are technology comfortable.
If we take Toyota for an example, when they introduced the Prius, it is a highly technology advanced car that appeals to Generation Y. Toyota was clearly marketing the car to Generation Y, people who where concern with the rising cost of fuel so they are looking for cars with better fuel economies and people who are concern with the environment. Another example with Toyota is when they introduced a new car brand Scion, it was specifically made to market Generation Y. Their initial market strategy Project Genesis had failed with the production of Toyota Echo. When Project Genesis was off the table they introduced a new car brand Scion, Toyota had learned that if they made their Scion cars customizable it would get the attention of young male buyers who would be interested in the broad variety of modifications available to enhance the cars performance. The world has been experiencing economic downturns since 2008 and that has affected the automotive industry but in the last 2 years sales have been improving. Most people are trying to save money especially when it comes to cars because they are expensive and a bad investment. The consumer is trying to save money but he still wants a good product variety so hen can find a car that will fit his needs. Just because I only took Toyota for an example does not mean that the other car manufacturing companies are not experience these problems
The demographic environment includes many factors such as age, gender, family status, race, education and the community in which a person lives. A change in age distribution is a demographic force that will affect the organizations in the automotive industry. Over the years the main target group has shifted from the old generation the “baby boomers” to the next generation of customers, Generation Young or “echo boomers”. Generation Y is know as people born between 1977 and 1994, they have grown up with computers so they are technology comfortable.
If we take Toyota for an example, when they introduced the Prius, it is a highly technology advanced car that appeals to Generation Y. Toyota was clearly marketing the car to Generation Y, people who where concern with the rising cost of fuel so they are looking for cars with better fuel economies and people who are concern with the environment. Another example with Toyota is when they introduced a new car brand Scion, it was specifically made to market Generation Y. Their initial market strategy Project Genesis had failed with the production of Toyota Echo. When Project Genesis was off the table they introduced a new car brand Scion, Toyota had learned that if they made their Scion cars customizable it would get the attention of young male buyers who would be interested in the broad variety of modifications available to enhance the cars performance. The world has been experiencing economic downturns since 2008 and that has affected the automotive industry but in the last 2 years sales have been improving. Most people are trying to save money especially when it comes to cars because they are expensive and a bad investment. The consumer is trying to save money but he still wants a good product variety so hen can find a car that will fit his needs. Just because I only took Toyota for an example does not mean that the other car manufacturing companies are not experience these problems