math 101
Understanding What You Read – Week 3
Week 3- Chapter 5- Understanding Your Customer
1. Identify demographic trends that are occurring in the United States, related to (a) number of single-person households, (b) median age for marriage, (c) birthrate, (d) U.S. population growth, and (e) number of male homemakers.
Single person households are showing the greatest increase in numbers and that trend is projected to continue.
Birthrate has remained relatively stable in the United States since 1994 & growth will continue to slow.
The percentage of male homemakers continues to increase, but women will continue to make the majority of purchasing decisions.
2. Identify behavioristic trends that are occurring in the United States related to spending patterns of (a) children, (b) baby boomers, and (c) Hispanic teens. Spending by and for children will increase.
As more responsibility is placed on younger children because of latch-key lifestyles they are learning savvy shopping skills along with gaining confidence in their role as shoppers.
Baby boomers vary markedly in their attitudes & values thus cannot be looked at as a single market segment. Baby boomers tend to spend lavishly on their children.
Hispanics will compose 29% of the U.S. population by 2050, compared with 14% in 2005.
3. Describe lifestyle changes that are occurring in the consumer market.
Lifestyle changes that are occurring in the consumer market are things such as Travel consultants, fitness focused products & retirement housing.
4. Describe the differences between rational and emotional buying motives.
The difference between rational & emotional buying motives is that rational buying motive concerned with basic human needs such as food, clothing & shelter where as emotional buying motives involves customer’s feelings rather than logic.
5. How do customers select one store over another when making a purchase?
Customers select one store over another when making a purchase because of
Week 3- Chapter 5- Understanding Your Customer
1. Identify demographic trends that are occurring in the United States, related to (a) number of single-person households, (b) median age for marriage, (c) birthrate, (d) U.S. population growth, and (e) number of male homemakers.
Single person households are showing the greatest increase in numbers and that trend is projected to continue.
Birthrate has remained relatively stable in the United States since 1994 & growth will continue to slow.
The percentage of male homemakers continues to increase, but women will continue to make the majority of purchasing decisions.
2. Identify behavioristic trends that are occurring in the United States related to spending patterns of (a) children, (b) baby boomers, and (c) Hispanic teens. Spending by and for children will increase.
As more responsibility is placed on younger children because of latch-key lifestyles they are learning savvy shopping skills along with gaining confidence in their role as shoppers.
Baby boomers vary markedly in their attitudes & values thus cannot be looked at as a single market segment. Baby boomers tend to spend lavishly on their children.
Hispanics will compose 29% of the U.S. population by 2050, compared with 14% in 2005.
3. Describe lifestyle changes that are occurring in the consumer market.
Lifestyle changes that are occurring in the consumer market are things such as Travel consultants, fitness focused products & retirement housing.
4. Describe the differences between rational and emotional buying motives.
The difference between rational & emotional buying motives is that rational buying motive concerned with basic human needs such as food, clothing & shelter where as emotional buying motives involves customer’s feelings rather than logic.
5. How do customers select one store over another when making a purchase?
Customers select one store over another when making a purchase because of