National Marketing Council Report Example
Type of paper: Report
Topic: Consumption, Customers, Age, Housing, Homelessness, People, Information, Food
The quantifiable data represented in Table 20 provides the general marketing matter of the family of four, which can be used by the National Marketing Council (NMC) members and also for economic consideration. The data represents the pattern of the consumption that is anticipated to help the NMC members learn about the market trends. The information from the table will cover various industries and influence their production planning as well as promoting the sale of goods and services. The population expenditure from the table includes food, tobacco and liquor, Housing, clothing, persona care, recreation, reading, education, transportation, and other expenditures.
The purchasing patterns of consumers by age of the primary provider in a family of four is determined by the age according to the table 20. The consumption behavior of the individual is influenced by age the degree of the necessity attached to the commodities. For instance, the consumption behavior from the table indicates that the consumers’ are spending more on the food, housing, and transportation given their respective percentage expenditure. This family of four struggles to maximize their utility given the limited distribution of the expenditure. As a result, this consumption pattern can help the National Marketing Council to know the purchasing patterns of consumers across the country. The information acquired from this consumption pattern is vital to help the NMC member keep updated on the general marketing trend.
In the family of four, presented in the table 20, the II. Purchasing patterns varies by the age of the consumers as well as the demand for the commodity. The age ranges between 25 year and above 75 years. The consumption pattern indicated by the table reflects that the consumers are willing to spend more on housing, food, and transportation. The highest percentage distribution of expenditure is on housing at 35.9 percent, indicating that people above 75 year has more demand on housing than any other group. Reading and education expenditure indicates that the consumers are not highly induced to consume these products.
Food is depicted as one of the necessities to the consumers, given that it among the top three commodities that are highly consumers. The consumption pattern of the food has an increasing trend with respect to the age. For instance, the foods consumption pattern increases from 21.6 percent for under 25 years to 26.7 percent for over 75 years. Therefore, the older consumers consume more food expenditure than the younger consumers. The consumption expenditure for tobacco and liquor increase from 3.3 percent for under 25 years of 3.7 percent for the age group between 45 and 54 years at 3.7 percent. From 55 years, the consumption pattern begins to fall, indicating that older consumers are not enticed on alcohol. The highest consumers fall under the category of age group between 45-54 years.
The housing consumption expenditure indicates that housing is a vital commodity to all consumers irrespective of the age. However, the demand for housing is relatively high to the consumer who are above 75 years. The consumption pattern of the clothes indicates that the young and old group are not enticed to clothing consumption. The largest consumers of the cloth are the people between the age of 25 and 54 years. The Personal care consumption expenditure indicates the consumers between the ages of 35 to 64 years are the largest consumers of the personal care with 2.9 percentage. Contrary, the consumption expenditure for medical care increases as the age increases. The highest level of consumption is for the people above 75 years with 12 percent. Similarly, as the age increases, the consumption of reading commodities increases from 0.8 percent to 1.2 percent to the oldest people. On the other hand, the recreation consumption decreases as the age increasing making the consumers below 25 years the largest consumers with 4.6 percent. The education consumption is higher in the groups below 25 years and between 45 and 54 years. This case is similar to the consumption of other expenditures. The similar trend is observed on transportation where the young people consumers more transportation than the older people.
As indicated from the data analysis, different industries should focus on information about age to understand the consumption behavior. For instance, the housing and food industries should increase their target on old people above 75 years because they are the largest consumers of housing and food. Transportation industry should consider the products that satisfy the need and the preference of the young people while medical care should target more on older people. The liquor and tobacco industries should differentiate their products to appropriately meet the high demand of the age group between the age of 25 years and 54 years. In addition, the MNC members will realize that different commodities are consuming depending the age of the consumers. It is significant to not that while consumption expenditure for some commodities increase with age, other decrease as the age increase.