The Marketing Environment is broke up into many many different categories. The goal of marketers is to identify future market opportunities and threats by gathering environmental data.
One way to group the target market, is by demographic factors.
Tweens (ages from 8-14) 29 million consumers
Generation Y (born between 1979 - 1994) 60 million consumers
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| High School Musical Cast |
Generation X (born between 1965 - 1978) 40 million consumers
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| Tia and Tamera mowry (sister, sister) |
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| KOBE! |
Baby Boomers (born between 1946 - 1964) 77 million consumers
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| George W. Bush, Barack Obama, Bill Clinton = Baby Boomer |
Marketers also have to consider the rising number of ethnic markets. According to the MKTG3 text, "in 2008, Hispanics wielded more that $1 Trillion in spending power; African Americans' spending topped $921 billion; and Asian Americans' spending power soared to $526 billion. Currently Hispanics account for about 14 percent of the US population and it is speculated to increase to 25% percent in 2050. So with that knowledge, marketers know that there is a big load of money that is to be made by targeting the hispanics. For example, the increasing number of Latin American TV stations shown throughout the United States.
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