NEW SERVICE IDEAS (based upon changing Consumers and Markets)

Go to the library (or internet- but sooner or later you will have to go to the library) and find (and copy) TWO articles about changing culture or  lifestyles or demographics or a Megatrend (think back to your intro to marketing days)- these should be TWO different trends (if both your articles were of one trend, get another on a new/different one).  These can be articles on the growing changing family structure, values (multiculturalism, materialism) or demographics (aging consumers, growth in Hispanics,  etc) or a significant marketplace trend (recession, greater numbers of poor, Environmentalism, growing numbers of obese folks, popularity of Hookah bars, etc.).  Try to find articles that have a focus on consumers or consumer groups and how they are changing.  DON’T pick articles on new products or services- pick a broader consumer or environmental trend- make sure it is a major, not a minor trend- and that it is in the U.S. (we are not focusing on other countries for this assignment- it may be a Global trend- that’s OK, but must be trending’ in the US too.)

1)    Then read and quickly describe the TWO trends- (1/2 page)-
2)    Then answer the question HOW are these trends important to marketers of services?  How will they Impact some services? (1/2 page).  Focus on SERVICES, not products- and how this trend will impact Services in General- what unique elements of services will be impacted by this trend (like restaurants, or bars, or airlines, or hotels€¦etc)
3)    Finally, take a stab at developing TWO NEW (2) Services or Service Extensions (Wal-Mart having child-care; Target decorating college dorm rooms) that would capitalize and be successful because of this trend.  Cool examples in past of new services: Elder Universities (for seniors); Airlines for adults only (no babies/ children); Nightclubs for older women (cougars); Cruise Lines for Disabled People; Spa for Asian Americans; Evangelical Christian Dating or Cruise Line, Vacations where you can take your dog€¦.etc. (1/2 to 2/3 page for EACH service idea).

What is the Target Market for the new service or extension?  How will these two new ideas capitalize on the trends?