SBMGSB101 Lecture Notes - Lecture 1: Market Segmentation, Psychographic, Baby Boomers
6 Dec 2016
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Social entrepreneur: focus on starting business that are good for society ex non-profit or charity. Intrapreneur: work in a company and take a new idea and translate it into a profitable product or service. 5 factors that are splintering the mass market: Echo boomers (millenels or y generation): 1980-1995 20% of population. 5 key factors in splintering the mass market. 6 main changes in business and social world can be grouped in the following categories. Trends- globalization, technology, e-commerce, boomers, splintering the mass market. Threats- poverty, gov polices, population pressure, climate, economic instability. Growth segment: an identifiable slice of an industry that is expanding more rapidly than the industry as a whole. Growth industry: an industry whose annual sales increase is well above average. Product use/ benefits-how are you fixing a societal need. Or behavioral- why the market buys the product.
