Dealing with Changing Family Structures

1. What effects have the changes in family structure had on businesses thus far? Think of the products that have been designed for couples with no children and for individuals living alone. Think also of the working woman phenomenon. What does that mean in the long run for businesses?

From the point of view of the couples with no children, the businesses can target this segment with luxury and stylish goods. Goods of conspicuous consumption will have acceptance in this segment. Stylish products and products that made a statement about the affluence of the persons using it should be targeted at this segment. Moreover, the businesses that are targeting this segment should position their brands as premium. The promotion communication should stress on images luxury and opulence. New products in these segments have potential for high profitability.

The working woman phenomenon means that products targeted at the working woman like clothes, cosmetics and cars for women have good potential. In addition, as she can spend less time at home, there is market for products like instant food products and day-care for children.

2. What is the significance of the fact that two of three of the married couples with no children at home are over 50? What market opportunities does that create?

This means that this market segment has high disposable income but is aged. This means that the products must be designed for people that are old and feeble. Products may also be targeted at persons have geriatric diseases like arthritis.

Products that are modified or adapted for use by those with age above 50 will get an excellent response from this segment.

Opportunities in the pharmaceutical industry include good market for medicines related to ailment for people above 50 like treatments for Alzheimer's, arthritis, prostrate problem, osteoporosis or ocular problems. Similarly health care product makers can focus more on products targeted at persons above 50 years.

3. What is the...