MKTG1001 Lecture Notes - Lecture 4: Starbucks, Mastercard, Marketing Mix
Document Summary
Mktg1001 lecture 4 - environmental analysis: trends and insights. Made up of institutions & other forces affe(cid:272)t a so(cid:272)iety(cid:859)s (cid:271)asi(cid:272) (cid:448)alues, per(cid:272)eptio(cid:374)s, preferences & behaviours (consumption behaviour) Absorb a world view defines their relationships to themselves & others. Lifestyle, e. g. food preferences, choice of accommodation (hobbies) Sociocultural characteristics of a society, its people & culture reflecting their values & beliefs. Passed on from parents to children & reinforced by society secondary beliefs & values. More open to change cultural swings take place, e. g. influence of popular music. Predict cultural shifts spot new opportunities & threats. **cultural & demographic will affect every idea in the group project! How people see themselves shared norms/value influence how we consume & lifestyle. Collectivist i(cid:374)di(cid:448)idual is (cid:374)ot the (cid:448)o(cid:272)al poi(cid:374)t, i(cid:374)stead it(cid:859)s the group. Recently hyper individualist, e. g. lots of people taking selfies (tech driving this trend) How people view others, organisations, nature, society, universe.
