Sajjad1994Hi Sajjad, Please get the following essay graded.
Thanks in advance.
The following appeared in the opinion column of a financial magazine.
“On average, middle-aged consumers devote 39 percent of their retail expenditure to department store products and services, while for younger consumers the average is only 25 percent. Since the number of middle-aged people will increase dramatically within the next decade, department stores can expect retail sales to increase significantly during that period. Furthermore, to take advantage of the trend, these stores should begin to replace some of those products intended to attract the younger consumer with products intended to attract the middle-aged consumer.”
Discuss how well reasoned... etc…
Essay:
As per an article published in the opinion column of a financial magazine, it has been asserted that, on average middle aged consumers devote 39 percent of their retail expenses on department store products and services, while the retail expenditure of younger consumers is only 25 percent on average. The author of the article also claims that, the population of middle aged consumer is likely to increase dramatically within the next decade. Hence department stores should deliberate to attract middle aged consumers by replacing products meant to attract young consumers, in order to take advantage of changing market dynamics. Stated in this way, the argument manipulates facts and conveys a distorted view of the situation. The argument relies on assumptions, for which no evidence is provided. The argument is rather unconvincing, given the obvious flaws.
Firstly, the argument states that, on average middle aged consumers spend 39 percent of their retail expenditure on department stores products as compared to that of young consumers, who spend on average 25 percent. This statement has a lot of logical gaps. The argument only relies on averages and percentages to bolster its reasoning without sharing any specific figures. Averages and percentages are not absolute figures and any comparison drawn on their basis is highly likely to be misleading. For instance, on average if a middle aged consumer spends 100 $ in a month on retail expenditure, then 39 percent of it would be 39 $. However, if a young consumer spends on average 200 $ on retail expenditure, then 25 percent of it is 50 $. Hence, unless any absolute figures are shared to enable a comparison of the expenditure, it is not possible to validate the claims of the argument.
Additionally, the argument claims that the middle aged consumers’ population will dramatically increase within the next decade. This statement is a stretch and not substantiated in any way. The argument shares no information about how it arrived at this conclusion. If the author has referred any recent consensus conducted by the government, then the claims of the argument can be accepted. However, if the author has referred any report, which cannot be authenticated, then the argument holds no water.
Last but not the least, the argument makes a suggestion that department stores should replace products intended to attract young consumers with those products, which are meant to attract middle aged consumers. This line of reasoning is flawed. The argument overlooks a possibility that the preferences of consumers does not remain constant and are subject to change. There are numerous examples in real business world, wherein organisations were forced to change their business strategies on the basis of ever changing consumer preferences. Hence, without taking cognizance of this possibility, the business of departmental stores might get negatively impacted.
Thus, the argument has several glaring logical discrepancies. It started on a sound premise, but lacked necessary data to bolster it reasoning. If the argument had drawn upon imperative data and other possibilities as mentioned above and thereby plugged holes in the reasoning, it would have been far sounder on the whole.