External Influences on Consumers. MKT 750 Dr. West. Agenda. Snapshot of important demographic trends and how to keep on top of them A brief look at generational and cultural influences and the need to understand them Explore how social dynamics and word of mouth affect consumers.
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65+ segment will increase from
12.7% to 23.5% of the population
85+ segment will increase from
1% to 5.9% of the population
Projected Growth (Millions)
Selig Center For Economic Growth, 2002
Increase likelihood of social acceptance
Prestige and power
Enhanced position within a group
Reduce doubt about one’s own choice
Increase the cohesion within a groupBenefits of WOM