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Lecture

MKT 2210 Lecture Notes - Social Forces, Marketing Mix, Visible Minority


Department
Marketing
Course Code
MKT 2210
Professor
Subbu Sivaramakrishnan

Page:
of 2
the importance of environmental scanning
environmental scanning involves acquiring information on events occurring outside the
company and identifying potential trends.
a. tracking environmental trends
the declining consumption of coffee is an example of a trend identified by
environmental scanning. providing an explanation for the trend and assessing the
implications of the trend are also an important part of environmental scanning.
b. an environmental scan of canada
some emerging trends are highlighted in figure 3-2 in the text.
ii. social forces
social forces include the demographic characteristics of the population, and its values.
these social forces include demographic changes and cultural changes.
a. demographics
demographics involve describing the population (canadian population is expected
to reach 33 million by 2011) on selected characteristics, such as age, sex,
ethnicity, income, and occupation. some important trends affecting marketing
include:
1. the world population at a glance. the world population now 6.3 billion and
will be 9 billion by 2050. the population in canada shows a continued
increase in the number of people over 65 -- a trend referred to as "the
greying of canada." greater attention is being paid to the mature household
headed by people over age 50. these households control much of the
accumulated wealth in this country.
2. the canadian population
the canadian population is becoming older and more diverse.
expected to be 33 million by 2011.
generation cohorts
a. a major reason for the greying of canada is that the baby boomers -
the generation of children born between 1946 and 1964 - are
growing up. marketers have capitalized on this trend by developing
products and services for this age group.
b. at the same time, marketers are now tracking generation x -
persons born between 1965 and 1976. it is a generation of
consumers who are self-reliant, entrepreneurial, supportive of
diversity, better educated, not prone to extravagance and are likely
to pursue lifestyles and prefer products that are very different from
baby boomers.
c. the generation y refers to the generation born between 1977 and
1994 and has been called generation y or the net generation .
4. the canadian family. the structure of the canadian family is changing to
include households with single parents, unrelated persons and blended
families - two families from previous marriages that merge.
5. population shifts. the candian population, since the mid 70s has shifted
from rurual to urban population, with people moving into central
metropolitan areas. the top 27 cma’s in canada account for 64 per cent of
the population.
6. ethnic diversity. another trend is multicultural marketing which are
combinations of the marketing mix that reflect unique attitudes, ancestry,
communication preferences, and lifestyles of ethnic canadians.
most immigrants in canada (70%) are visible minorities and three out of 10
canadians are neither french nor british descent, but are other immigrant
groups. most immigrant groups and minorities live in the large cities of canada
.marketers use specific marketing efforts to read distinct ethnic groups.
b. culture
culture is the set of values, ideas, and attitudes of a homogeneous group of people
that are transmitted from one generation to the next. marketers monitor cultural
trends to spot new opportunities.
1. changing attitudes and values. one major trend is the changing roles of
women and men. 65 percent of canadian women now work outside the
home. women are increasingly holding management positions. time
poverty among workers with expanding duties.
another trend is that the belief in the value of the work ethic is declining.
there is greater emphasis on the quality of life . working women now
suffer time poverty. health conscious canadians are concerned with fitness
and health.
. there is also an emerging trend toward value consciousness - the
concern for obtaining the best quality, features, and performance for a given price
of a product or service.
eco-consciousness, the impact of consumption on the environment.emerging
business opportunities for “ecopreneurs”.
canadians becoming more experiental-try new things and seek new adventures.