The Changs are an Asian-American family who live in a small town in the United States. Mrs. Chang, Mr. Chang, and two children—a boy and a girl—who are both in high school and plan to attend college—make up the family. Mrs. Chang works as a marketing manager at a nearby savings bank. Her parents live 1,500 miles away in a retirement community, and she has no other relatives. Her husband has only one family member, his father, who is in the final stages of Alzheimer’s disease and lives in a nursing home a few blocks away. Mr. Chang is an MBA and certified CPA who works from home as an independent accountant. The family is reasonably well-off and has few financial concerns. Mrs. Chang enjoys Hollywood gossip and reads fictional mysteries in her spare time. Mr. Chang reads trade publications. Both children enjoy sports, watch television (especially MTV), listen to music, and are just starting to date. Discuss the various reference groups that have an impact on this family.

List and describe at least five different reference groups that influence different members of this family’s purchasing behavior.
Explain how marketers market to a wide range of consumers with varying needs, motivations, and reference groups.
Explain which of the reference groups you believe is most important to this family and how a company could best market to this family. Provide specific examples to back up your response.