Marketing Application Learning by doing is an integral part of the course experience albeit on online. The intent of this assignment is for you to demonstrate your ability to apply course content. Thus in the Marketing Application assignment you are asked to “get your hands dirty” in playing the role of marketing manager by engaging in tasks/decision making that a marketing manager may encounter. Marketing Application assignments may come from any material covered in the course up to the point of the assignment. This week’s application assignment draws on elements from, “Developing and Implementing Marketing Strategies and Plans” (Chapter 2), “Capturing Marketing Insights and Forecasting Demand” (Chapter 3) and “Identifying Market Segments and Targets” (Chapter 6).
Assignment (1-2 pages) (Please adhere to the page limit.) The population of Americans over 50 years of age will swell to 115 million in the next 25 years. You are to (part 1) detail the demographic information on this group of Americans (ages, buying power, perception of themselves, lifestyle etc.) and (part 2) suggest some key marketing opportunities mined from this information. For example, if seniors often make buying decisions based on lifestyle and not age, does this information present marketing opportunities for such industries as travel, bio-medical industries, at-home exercise equipment, automobiles etc.? If so, who is going to be affected and to what extent? Your answers should contain (part 1) detailed demographic information about this target market and (part 2) should draw a connection between what the information says and what is the potential for marketers.
Each section should have a heading. Submission Instructions: Submissions should be in your own words. Use references and citations where appropriate. BOOK: A Framework For Marketing Management. Kotler Keller 2016, 6th e