MKTG1001 Lecture Notes - Lecture 4: Roy Morgan Research, Test Market, Interest Rate
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Option 2 write review of a research paper. The factors which makes it up are measurable, e. g. the census measures data. The marketing implication of the trend is more important than the actual trend. E. g. trend towards aging population -> creates demand for health care, housing, pension. Data available from abs -> social trends report. Go through the library, as they have a subscription. Australia"s population is small in relation to geographic size, therefore our market isn"t big. As the market is small, australia is often used as a test market for products. Identifying trends isn"t the challenge, rather the implication of these trends. Women going back to work -> increased demand for child care. Rise in singles living alone -> targeting their food and entertainment needs. Green marketing/green washing -> come about as a result of these environmental concerns. Issues: economic development, changes in consumer spending patterns, changes in income. Interest rate levels: new trade zones, employment levels.