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Honda Corporation and US Markets After investigating the US market and getting positive feedback Honda exported over 50000 CR-Vs to the US 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 demographicscom sums the answer to this question up nicely 54 percent 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 growing The increased use 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-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 Honda To 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 47 Arizona 27 and Georgia and Utah both 21 Meanwhile Las Vegas was the most rapidly growing metropolitan area from 1990 to 1996 with a 41 population increase followed by
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