MGMT 105 Lecture Notes - Lecture 5: Price Discrimination, Consumer Product Safety Act, Price Fixing
Document Summary
Demographic environment: age groups, generaion xyz, baby boomers, millenials. State of the economy and impact on consumer conidence. Changes in consumer disposable and discreionary income levels and efect on consumpion levels and spending paterns. Gross domesic product (gdp) gives the total value of goods and services produced in a country. But low gdp markets can sill be proitable but market development strategies must be well thought out. Other factors to consider: income inequality; economic infrastructure. Rapidly changing technology spawning new product ideas iming of new product introducions and efect on sales of current products. For example, e-books and e-readers vs. tradiional books. Product innovaions that result in superior performance or process innovaions that result in cost advantages help raising market share. Shortages of raw materials and increased governmental regulaions may raise costs. Consumers" increasing concern about climate change and sustainability imply maintaining an environmentally-responsible brand image. Consumers care about product atributes in addiion to contribuion to the environment.
