Discuss about the Consumer Behaviour Activity and Nutrition Intervention.
Entrepreneurs should plan their business depending on the demographics of the people who are living in the society. The demographics of the people may vary based on age, background, gender and taste. The businesspersons should give a check on the demographics of the people living in the area and then plan the business. The write-up will mainly look into three types of industries, the gym and fitness centres, and the industry of pay TV and the restaurant industry. Four types of demographics that will be taken into consideration. Firstly, the senior citizens with longer life span. Secondly, the generation X who have a family and have little money to spend due to the loan and the mortgages will be studied. Thirdly, the baby boomers that have good amount of money to spend will be taken into account. Finally, the effect of the smaller unit family or the generation y that are young and earning and are ready to spend will be evaluated. The effects of the four types of demographics on the three types of industries will be studied. In addition to this, some other demographic trends will be discussed that either negatively or positively influence the three types of industries.
Longer life span of senior citizen
The gym or fitness industry will be negatively affected by the longer life of the span of the senior citizens of Australia. The senior citizens with longer life span will be those people who are over the age group of 80 to 85 years (Blackford 2013). This group of people mainly prefers to go and take a walk at the park rather than going the gym.
Even thought baby boomers are those individuals who are either approaching senior citizenship or are already senior citizens, yet they are considered the strongest consumers of the period (Anderson 2016). As they have worked hard in their lifetime, they have enough money to spend and spending the money on the fitness centers is considered the best possible method for them.
The generation X mainly concentrates in the income but the amount of expenditure is also more for such kind of generation. They have started a family and hence, they have to buy to think about the future of their child. They are the ones who have taken huge amount of loans either for buying a house or for the educations of their children. As a result, they cannot spend a huge amount of money for gym and fitness centers.
The smaller family unit will hugely benefit the gym or the fitness centers. The smaller family unit may include single adults or couples who are both planning to start a family. As the income rate is high for this group, spending in the gym and fitness centers will not be an issue for these kinds of people (Hajkowicz, Cook and Littleboy 2012).
The industry of pay TV would not be much benefitted from the senior citizens (Hausman 2012). The senior citizens who have longer life span are less acquainted with the changes in the television world and will prefer to watch the television in a manner that they have been doing since the earlier days.
The baby boomers are considered to be well ahead in the society when it comes to spending. The major reason behind the actions of the baby boomers is that they have strong financial background (Newman 2012). They have planned well and can spend money even if they are approaching retirement. However, the need of on-demand movies and programs without breaks might not be that much attractive to the baby boomers. Hence, the pay TV industry might get negatively affected among the baby boomer population. To attract the baby boomers, the business owners have introduced cards for the senior citizens (CompareTV 2016)
The need of pay TV will be more for the generation X. Even if they have limited amount of money to spend but as per the pay TV, they will only have to pay only for the channels they are viewing (Budde.com.au 2016). Hence, the population of generation X can plan which channels they want to watch and pay for that. When they are already living under a tight financial plan, it will be easier for them to manage their finances with the on-demand channels of pay TV
The people who fall under this group may or may not have started a family. However, their lifestyles are fast as they work all round the clock. The industry of pay TV will he hugely benefitted by the generation Y. They have money to spend for the on-demand. In addition this, the programs come without any breaks or advertisements and hence, they will prefer pay TV over any other kind of medium.
The restaurant industry might be negatively influenced due to the senior citizens who have a longer life span (Hordern et al. 2012). Even though, the senior citizens have the money to spend on outside food, yet, they will have to spend more money on medication and medical checkups and hence, it will be difficult for them to spend money on eating out.
The baby boomers have earned a good amount of money. Hence, they are ready to spend. As it has been seen that they are ready to spend on fitness centers and gym and it is expected that they will not step back to spend on eating out in the restaurant. Thus, the restaurants will be hugely benefitted by the baby boomers who approaching their retirement or are already retired.
Generations X that is mainly concentrating on family and household will have less time in eating outside. They have already taken loans and have mortgages that they have to pay. Thus, it is expected that the restaurant industry will not be benefitted by the generation X who are mainly concentrating on the family. However, eating out with family among the Australians is quite famous. Hence, it can be expected that the generation X might give some amount of business to the restaurant industry.
As the generation Y lead a busy life, ready to cook food and eating out will be the most viable option for them (Bruwer and Huang 2012). Hence, business owners should concentrate more on the business that they will get from the population with smaller family units. They earn well and are ready to spend their income by eating out in the restaurants.
The kids who are going to school are well acquainted with the pay TV (Cox et al. 2012). The pay TV gives certain offers on education and entertainment channels for kids. The channels will help in giving the necessary knowledge for the children as well as they will enjoy while learning as it is different from the normal textbooks. Thus, the companies who are in the pay TV business can promote their products in the educational institutions, which are adapting to technology to educate the children. The schools make use of the pay TV to make the children enjoy the education.
The restaurant industry can also target the international tourists who come to Australia for holiday. The native food always attracts the tourists who visit a new country (Solomon, Russell-Bennett and Previte 2012). Some of the common types of meat available all over the world are beef, chicken and mutton. However, Australia is famous for emu and kangaroo meat. The owners of the restaurant can concentrate on the international tourist so that they can get a taste of food that is especially available only in Australia. Even though, the footfall of the tourists can be seasonal, yet the tourists who are travelling internationally have more interest of eating out than the people who go out to have food on every day basis (Min and Lee 2014).
Conclusion
After evaluating the industries sand the demographics, it can be said that surprisingly, the baby boomer will be the most interesting demographic. Even though, they are senior citizens but they are ready to spend the money that they have earned. In addition to this, the generation Y will be helpful for the business owners. The generation X will negatively influence the gym and fitness centres. However, the restaurant industry can expect some amount of business as the people in Australia like dining out with family. The senior citizens will not be able to help with any kind of positive effect on the three industries. The international tourists will be able to influence the restaurant industry. The kids will be able to influence the industry of pay TV in a positive manner.
References
Anderson, M. 2016. Welcome To The Future Of Fitness: Trends You Need To Know. [online] The Cusp. Available at: https://thecusp.com.au/welcome-to-the-future-of-fitness-trends-you-need-to-know/6054 [Accessed 18 Sep. 2016].
Blackford, K., 2013. Office-based physical activity and nutrition intervention: barriers, enablers, and preferred strategies for workplace obesity prevention, Perth, Western Australia, 2012. Preventing chronic disease, 10.
Bruwer, J. and Huang, J., 2012. Wine product involvement and consumers’ BYOB behaviour in the South Australian on-premise market. Asia Pacific Journal of Marketing and Logistics, 24(3), pp.461-481.
Budde.com.au, 2016. Australia – Pay TV, Free-to-Air TV – Statistics and Analysis – BuddeComm. [online] Budde.com.au. Available at: https://www.budde.com.au/Research/Australia-Pay-TV-Free-to-Air-TV-Statistics-and-Analysis [Accessed 18 Sep. 2016].
CompareTV, 2016. Foxtel Senior’s Card Package Retired by Half Price Offer. [online] CompareTV. Available at: https://www.comparetv.com.au/news/foxtel/foxtel-seniors-card-package-retired-by-half-price-offer/ [Accessed 18 Sep. 2016].
Cox, R., Skouteris, H., Rutherford, L., Fuller-Tyszkiewicz, M. and Hardy, L.L., 2012. Television viewing, television content, food intake, physical activity and body mass index: a cross-sectional study of preschool children aged 2-6 years. Health Promotion Journal of Australia, 23(1), pp.58-62.
Hajkowicz, S.A., Cook, H. and Littleboy, A., 2012. Our Future World: Global megatrends that will change the way we live. The 2012 Revision. CSIRO, Australia.
Hausman, J., 2012. Contingent valuation: from dubious to hopeless. The Journal of Economic Perspectives, 26(4), pp.43-56.
Hordern, M.D., Dunstan, D.W., Prins, J.B., Baker, M.K., Singh, M.A.F. and Coombes, J.S., 2012. Exercise prescription for patients with type 2 diabetes and pre-diabetes: a position statement from Exercise and Sport Science Australia. Journal of Science and Medicine in Sport, 15(1), pp.25-31.
Min, K.H. and Lee, T.J., 2014. Customer satisfaction with Korean restaurants in Australia and their role as ambassadors for tourism marketing.Journal of Travel & Tourism Marketing, 31(4), pp.493-506.
Newman, M.Z., 2012. Free TV File-Sharing and the Value of Television.Television & New Media, 13(6), pp.463-479.
Solomon, M., Russell-Bennett, R. and Previte, J., 2012. Consumer behaviour. Pearson Higher Education AU.
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