Trends Case

The three trends that shaped the consumer behavior today are: 1) internationalization, 2) technological changes, and 3) changing demographics.

In the business world, most of them are expanding globally; they don’t only expand locally but through worldwide in spite of cultural and geographical distance. Their aim is to develop their business practices, increase profitability and overcome any problems related with the existing market. Although Mc Donald, Starbucks, Coca-Cola and other foreign brands can be found worldwide, even if their operating firms are same, consumers are different because of culture and way of living or lifestyle.

Due to technology advancement, including information through internet, means of transportation, entertainment, new style of medicine and others which affect the daily life of consumers greatly. The Internet for example has made distance almost not an issue because consumers can shop anytime anywhere, and can communicate with friends or relatives that are far away from each other.

Finally, demographic trends have shaped consumer behavior patterns greatly. In terms of population, race, age, gender, etc. It becomes a profile of the consumer that marketers can analyze what market they should target. For example, baby boomer which is going to retirement becomes a big spender since their financial wealth holds a bigger percentage than generation Y.

Consumer lifestyle refers to the patterns of behavior reflecting how a person, decide to spend their time and money. Psychographics is the use of demographics to study and measure attitudes, values, lifestyles, and opinions. Psychographic measures using AIO statements, which are used to understand consumers’ activities, interests, and opinions if they are strongly agree, slightly agree, disagree or strongly disagree.