Reference no: EM132112530

The population of Americans over 50 years of age will swell to 115 million in the next 25 years. First, access and detail the demographic complexion of this group of Americans. Include information such as ages, buying power, perception of themselves, etc. Once your introductory information is complete, address the following specific questions: 1. Identify some key marketing opportunities mined from this information. For example, if seniors often make buying decisions based on lifestyle and not age, as the vignette in the text mentions, does this information present marketing opportunities for such industries as travel, bio-medical industries, at-home exercise equipment, and automobiles? 2. Based on your answer in question 1, which industries are going to be affected and to what extent? What will the new “strategic imperative” be for those industries affected? Now, let’s think about a new demographic trend that we expect to emerge in the U.S. The upcoming demographic changes for the U.S. population calls for Hispanics to be the largest demographic segment in the U.S. by 2050. Assuming that this is true, research and address the following questions: 3. Comment on how this demographic shift will change the segmentation in: a) the grocery industry, b) the fast-food industry, and c) the casual dining industry. 4. Based on the cultural and lifestyle facts that you have found on the Hispanic market, discuss the impact that these may have on the marketing mix (4P’s; product, place price, promotion) that is applied to the Hispanic market by firms wishing to compete in this segment.