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Western University
Management and Organizational Studies
Management and Organizational Studies 1021A/B
Bob Larose

chapter2 , the marketing environment 12/16/2013 12:52:00 AM Environment that affects marketing decision. Marketers constantly monitor the marketing environment with a view to capitalizing on new opportunities and thwarting potential threats. Marketing environmental scan: is the process of continually acquiring information on events occurring outside the org. to identify trends, opportunities, and threats to a business. -In 6 areas: Demographic forces: age, gender, ethnicity, income, and occupation of a group of people. -Ensure marketing efforts are well placed in demographic change Diverse Generations: Baby boomers: main reason for the greying of N.A -born between 1946 and 1965 -average of 4 children -interest in health, self-image, and retirement Generation x: -born between 1966 and 1974 -key influence in the market -not as brand loyal and tend to be more self-reliant, entrepreneurial, and better educated -less prone to materialism and extravagance Generation Y: -born between 1975 and 1995, as echo boom -interesting in music, video games, sports, and computer -influential as their baby-boom parents Big city Dwelling: cities are growing much faster than rural areas; city Centres are growing more slowly than the suburbs Ethnic diversity: Canada is a multicultural country create an interesting opportunities for marketers Non-traditional families World markets: -Growth in underdeveloped areas  opportunities to expand into foreign markets Socio-cultural forces: cultural values, ideas, and attitudes, as well as society’s morals and beliefs -Ex: relate to ethnic foods, health and fitness, the environment, the role of women in society Economic forces: a country’s economy as a whole -significant change in the economy, impact on a household’s income and ability to purchase. -key economic indicator: inflation/unemployment/economic growth rate and consumer confidence -inflation: a period when the cost to produce and buy products and services gets higher as prices rise *prices rise faster than consumer income, consumer purchasing power decrease. -recession: a time of slow economic activity with two consecutive periods of negative growth *production levels decline, unemployment levels rise, less money to spend. Organization for economic Co-operation and development(OECD): describe Canada’s growth T
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