Honda 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 comparison 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 percent of Gen Xer's have established a financial plan 88 percent want investment advice 46 percent already own mutual funds Population size of 44 million and growingThe increased use of information technology in today's 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-second 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 basically 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 needs of its changing customer base. For instance, the fastest-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 Utah (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-Mission, TX (29%). The story for...
