Echo Boomers Case Study

1308 Words6 Pages
Used Car As a Bridge (Bing images) (Bing images) Christine Xie 21, September, 2014 Ms. Stephanie CIA4U ·Background Information “Baby boomers” and “Echo boomers” are two main components of Canadian population. “Baby boomers” refers to the people who were born between 1946 and 1966, and “Echo boomers” were born nearly 40 years later. “Baby boomers” and “Echo boomers” take up 54% population among the Canada, become the most essential section of Canadian economy. With the time passed, “Baby boomers” are ready to retire while “Echo boomers” just getting into the society, hence, they have differentia of the attitude towards the market – customers who belong to “baby boomers” focus on the quality of a product rather than the price;…show more content…
My business aim is to link these two age groups together through my business and at the same time making profit for myself; in consequence, my business will focus on the second-hand market, especially the second-hand cars. My competitors are other companies which are also selling second-hand products in Canada, for example “autotrader.ca” is a website that can offer different kind of second-hand products (especially used car) for consumers. Unlike the “baby boomers”, “echo boomers” mostly focus on the price of goods and service due to their restricted fund. What’s more, “echo boomers” are now the largest age group in Canada; their demands for second- hand goods are much higher than other generations; therefore, in Canada, the demand for second-hand products has increased. One research shows that, second-hand car market showing no signs of slowdown in North America. (Yahoo Finance Canada). Base on the increase of the demand, the equilibrium price of the market will increase while the quantity is also…show more content…
My problem is to link “baby boomers” and “echo boomers” together while making profits for my business. The study shows that the oldest “echo boomers” just get into job for a few years while the youngest “echo boomers” are still studying at school. They need to fit in the society and enrich their social experience in order to earn money, and a good they really need is car. “Baby boomers” certainly have cars, but “echo boomers” are the group of people that need cars. The used car market provide a chance to link this two generation together – “baby boomers” can sell their used cars to “echo boomers”. In this situation, “echo boomers” can get their cars with prices that are more affordable, and “baby boomers” can earn money after retiring and also buy another cars for themselves to drive -- they might want to change cars with a lower price too. In this way, the used car can easily bring “baby boomers” and “echo boomers” together. What’s more, the large demand in this second-hand car market can drive the equilibrium price rise, and my business can make profits from
Open Document