MARK1012 Chapter Notes - Chapter 4: Baby Boomers, Generation Z, Mobile Marketing
MARK1012 CHAP 4
Chapter 4: Analysing the Marketing Environment
The Marketing Environment
The Immediate Environment
-Company capabilities: 1st factor that affects the consumer is the firm itself.
Successful firms focus on satisfying customer needs & wants.
-Competitors: Marketers need to understand their firm's competitors strengths &
weaknesses.
-Corporate partners: Parties that work with the firm in focus are corporate
partners.
The Macroenvironment
-Culture (country culture & regional culture)
-Demographics (General cohorts): indicate the characteristics of human
populations used to identify consumer markets
-Generation Z: aka the Digital Natives born since 2001
-Generation Y: aka Millennials born between 1977 - 2000. Children of the Baby
Boomers make up more than 25% (5 million) of all Australians & more than 25%
of the world’s population.
-Generation X: aka Xers born between 1965 - 1976. 21% of the Australian
population (4.4 million)
-Baby Boomers: After WW11. 14% of the Australian population (3 million)
-Income distribution
-Education
-Gender
-Ethnicity
-Social Trends (thrift, health and wellness concerns, green marketing, privacy
concerns, time-poor society)
-Technological Advances (social media & mobile marketing)
-Economic Situation (inflation & foreign currency fluctuations)
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Document Summary
Company capabilities: 1st factor that affects the consumer is the firm itself. Successful firms focus on satisfying customer needs & wants. Competitors: marketers need to understand their firm"s competitors strengths & weaknesses. Corporate partners: parties that work with the firm in focus are corporate partners. Demographics (general cohorts): indicate the characteristics of human populations used to identify consumer markets. Generation z: aka the digital natives born since 2001. Generation y: aka millennials born between 1977 - 2000. Boomers make up more than 25% (5 million) of all australians & more than 25% of the world s population. Generation x: aka xers born between 1965 - 1976. Social trends (thrift, health and wellness concerns, green marketing, privacy concerns, time-poor society) Technological advances (social media & mobile marketing) Economic situation (inflation & foreign currency fluctuations) Political/ legal environment: companies must comply with legislation regarding consumer protection, fair competition & industry-specific regulation.
