Read the following case study:
The Chang family is an Asian-American family who lives in a small U.S. city. The family consists of Mrs. Chang, Mr. Chang, and two childrenâ€”a boy and a girlâ€”both who are in high school and both plan to attend college. Mrs. Chang is a marketing manager at the local savings bank. Her parents live in a retirement community 1,500 miles away, and she has no other relatives. Her husband has only one family memberâ€”his fatherâ€”who is in a nursing home a few blocks away and is in the final stages of Alzheimer’s disease. Mr. Chang is an MBA and certified CPA who works as an independent accountant from his home office. The family is moderately wealthy and has few financial worries. Mrs. Chang reads fictional mysteries in her spare time and enjoys Hollywood gossip. Mr. Chang reads industry-related journals. Both children play sports, love televisionâ€”especially MTVâ€”like music, and are just beginning to date. Discuss the various reference groups impacting this family.List and describe at least five different reference groups that influence the purchasing behavior of different members of this family.Explain how marketers market to various consumers who have different needs, motivations, and reference groups.Explain which of the reference groups you believe is most important to this family and describe how a firm could best market its products and services to this family. Use specific examples to support your response.Your report should be 4 to 5 pages in length, include at least three references, and be in correct APA format.