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GEO 301 (26)

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GEO 301
Joseph Aversa

1 Week 1: Marketing, Geography, and Marketing - Marketing: in a general business sense, is concerned with the identification of the demand for various goods and services and with the arrangements for the supply of these through efficient distribution networks” - Geography: The study of the earth and its features and of the distribution of life on the earth, including human life and the effects of human activity Consumer Trends A. Mobility - Greater territorial shopping range of consumers o People can travel farther, faster, cheaper o Why can people drive farther, faster, and for cheaper--- Cars (Technological enhancements) Road Networks (more Highways), Public Transportation - Greater territorial overlap of retailers o Previously geographically isolated retailers may be within the geographical range of larger, out-of-town retailers o Consequence of greater consumer mobility o due to increased mobility in consumers Retailers trade areas are becoming much larger and therefore is changing the scope of any companies retail activities, especially how the determine and deal with competition - Multi-purpose trips o Greater consumer-side transport capacity (trunks) o Consumers can meet many needs with less frequent, large-scale shopping/errand trips o Consumers now have the ability to purchase more at any given time- leaving more room for impulse shopping to occur - Two-tiered o Many people do not have increasedmobility o Smaller shopping range o With this being said certain retailers still need to recognize the fact that there are consumers who do not have the increased mobility B. Income and Spending - Greater income/wealth o The average income of society has been increasing o The disparity of that income may be increasing (polarization of consumers) - Greater spending o As a result of greater income/wealth o As a result of lower savings o Because there is an increase in consumers income and net worth there is an increase in the amount their spending - Greater Spending on What? o “Basic needs” spending is inelastic to income o A greater proportion of income available for goods other than food/clothing/utilities o In other words since basic needs spending does not fluctuate based on income there is a greater proportion of income available other than food etc. C. Demographics Aging - Population aging o Life expectancy is increasing o Lower birth rate o The population pyramid becomes “top heavy” - Impact on retail industry o Drop in market size and share of young people o Increase in market size and share of old people o What kind of products will be more or less in demand? 2 Population Growth - Population growth o Low (even negative) throughout developed world o High throughout developing world - Impact on retail industry o Lower long-term growth prospectsin areas of lower population growth Geographic Variation - Population aging and growth figures are dependent on level of aggregation o Growth at the level of the country (Canada) may be low o Growth within Canada can vary from high growth (Alberta) to low growth (Newfoundland) o Age profiles can also vary greatly within countries
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