American Honda Motor Corporation :: Essays Papers

American Honda Motor CorporationHonda Corporation and U.S. Markets After investigating the U.S. market and getting positive feedback, Honda exported over 50,000 CR-Vs to the U.S. in 1997. The target markets for this sporty looking new CR-V were consumers between the ages of 23 - 34, referred to sometimes as generation X. At $20, 000 however, in analogy to its competitors who offer vehicles at a cheaper cost, one might ask the question - why such a high price tag? An article on generation X from demographics.com sums the answer to this question up nicely 54 portion of Gen Xers have established a financial plan 88 percent want investment advice 46 percent already own mutual funds Population size of 44 million and growingThe increased exercise of information technology in todays economy also creates an environment that facilitates better-informed decision-making. The internet, a powerful source for information is more than readily accessible. For instance, instead of watching 30-se cond commercials on television, generation X can tap into the net and spend as much time as they need researching products before making a purchase. As a result, generation X is better educated than previous generations and has more disposable income. They value quality more so than ever before and fundamentally look for products that work for them. Economic forces that will impact HondaTo continue selling record breaking units Honda will have to keep in touch with the needfully of its changing customer base. For instance, the windy-growing states, metropolitan areas, cities, and countries were concentrated in the South and West, according to the Census Bureau. The states whose population rose the fastest between 1996 and 1997 were Nevada (4.7%), Arizona (2.7%), and Georgia and universal time (both 2,1%). Meanwhile, Las Vegas, was the most rapidly growing metropolitan area from 1990 to 1996, with a 41% population increase, followed by Laredo, TX (33%), and McAllen-Edinburg-Missio n, TX (29%). The story for cities was much the same. Among those with more than 100,000 people in 1996, the fastest growing from 1990 to 1996 were Henderson, NV (88%), Phoenix, San Antonio, and Houston. Each gained more than 100,000 people during this period. According to projections, the U.S. population in 2050 will have risen to about 394 million mostly in unwrap due to increasing ethnic groups.Significance of these trendsIn 1997, an estimated 26 million persons, or nearly 1 in every 10 residents of the United States, were abroad born, the highest level since 1930.