MGCR 352 Chapter Notes - Chapter 3: Disposable And Discretionary Income, Market Environment, Millennials

• School: McGill University
• Department: Management Core
• Course: MGCR 352
• Professor: Fabienne Cyrius

Document Summary

Environmental scanning the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends. Social forces: forces of the environment that include the demographic characteristics of the population and its values. Demographics-the study of characteristics of a human population ie size, growth rate, gender, marital status, income, age, etc. -baby boomers: generation born between 1946 and 1964. Lower number of children born in this period, generation is self-reliant, not as extravagent. -generation y: 1977-94-baby boomers having children, increasing birth rate, major influence on technology. -the canadian family: mot dual income families, many blended families. -population shifts: most canadians now live in cmas (>100 000 pop. ) -ethnic diversity-ethnic marketing: combinations of the marketing mix that reflect the unique attitudes, race or ancestry, communication preferences, and lifestyles of ethnic canadians. -culture: the set of values, ideas, and attitudes that are learned and shared among the members of a group.