BUSI 2201U Lecture Notes - Lecture 5: Pest Analysis, Consumerism, Gross Income
Document Summary
Macroeconomic conditions: tight economy in late 2009 and 2010 meant, bad for travel industry and good for creative retailers staycation . Consumer income: gross income, disposable income (gross paying taxes, discretionary income (gross paying taxes necessities) How technology makes an impact: on organizations and marketers, how products are produced, how marketing reaches consumers, how sales are tracked and managed, even shipping and logistics, on consumers, where and how consumers express their needs. Lecture 5: how customers communicate with each other, where to purchase products, how customers use products. Components of competition: entry, barriers of entry, power of buyers and suppliers, existing competitors and substitutes. Pest analysis: political, government type and stability, government policies, tax and trading policy, marketing regulation, economic, economic growth. Inflation rates: social, literacy of the place, lifestyle and social trends, company/brand image in society, media views, technological, r&d activity, licensing. Lecture 5: patent acquiring, maturity of technology.
