MARK20100 Lecture Notes - Lecture 3: Micropolitan Statistical Area, Metropolitan Statistical Area, Gross Domestic Product
Document Summary
Environmental scanning is the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends: typically arise from five sources: The social forces of the environment include the demographic characteristics of the population and its culture: demographic- describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation. Growth suggests that niche markets based on age, life stage, family structure, geographic location, and ethnicity ill become increasingly important. Baby boomers- generation of children born between 1946 and 1964. Generation x- 50 million people born between 1965 and 1976. Generation y- 72 million born between 1977 and 1994: often referred to as echo boom or baby boomlet. Millennials is used to refer to younger members of generation y and sometimes to americans born since 1994. Blended family- one formed by merging two previously separated units into a single household.
