Demographic analysis is important to marketing. Demographics not only categorize the population in broad strokes, but it also helps to analyze differences in lifestyles that may influence purchasing behavior. Further, it can help identify trends in the growth of consumer groups, such as the growing population of people 85 years old and older. Thinking of social stratification, social structure, and understanding generations. Answer the following question in THREE PARAGRAPHS AND THREE REFERENCES NO PAPER FORMAT THIS IS A DISCUSSION POST:
- How can demographic information help marketers analyze the differences in American generations? Select a product and describe how marketing the product would differ when targeting a) the Depression Generation, b) the Baby Boom Generation, c) Generation X, and d) Generation Y. How does social stratification affect the analysis of generational differences in consumer behavior?