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Evolution of spending, marketing and customer service

Do you see changes todays buying habits and patterns that have taken place over the past five years? What type of marketing most appeals to you? Do you find customer service to be better now than five years ago, in general?

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You have asked for an opinion-based answer to three questions about consumer spending trends, marketing and customer service over the past 5 years.

1. Do you see changes in today's buying habits and patterns that have taken place over the past five years?

Yes. People spend more and save less than they did 5 years ago. This is not just a trend of the past 5 years but a trend than has spanned the past few decades. Since the oil boom days of the 70's the North American economy has taken off. Quality of life has increased and disposable income increased with it. The problem is that when the economy slowed down, lifestyle desires and "needs" continued to spiral upwards. Today, a television and computer are practically a necessity of life! If someone told you that they did not have a TV, the average person would think they were very strange. More and more people are going into debt to finance their high lifestyles. This is perhaps the biggest change over the past five years. The number of north Americans in debt and the amount of debt that the average North American has accumulated have increased exponentially in the past 5 years. People today finance everything: A mortgage on a house, leasing a car, furniture, and a big screen TV. Banks and companies make it too easy. All you have to do ...

Solution Summary

Analysis of current spending habits, marketing strategies and customer service and how they have evolved over the past 5 years.