BU352 Lecture Notes - Lecture 3: Competitive Intelligence, Millennials, Consumer Protection
Document Summary
Macroenvironmental factors (cdstep: competitors, demographics, social/cultural, technological, economic, political/legal, competitors. Competitive intelligence (ci): used by firms to collect and synthesize information about their position with respect to their rivals; enables companies to anticipate market developments rather than merely react to them. Demographics: countable characteristics of human populations and segments, especially those used to identify consumer markets such as age, gender, income and education. Demographics provide an easily understood snapshot of the typical consumer in a specific target market. Generational cohort: group of people of the same generation typically have similar purchase behaviours because they have shared experiences and are in the same stage of life. Seniors: north america"s fastest growing generational cohort; people aged 63 and over. Take time browsing before making a purchase, but have time and money to spend. Baby boomers: generational cohort of people born after wwii, between 1946 and 1964. Feel they can always take care of themselves, have an obsession with maintaining their youth.
