Textbook Notes (363,103)
Canada (158,195)
Commerce (1,634)
Chapter 3

Chapter 3 Summary

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McMaster University
Peter Johnson

MarketingChapter 3 1182012 Environmental scanning is the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends The five environmental forces are social economic technological competitive and regulatory Social forces are forces of the environment that include the demographic characteristics of the population and its values Demographics is the study of the characteristics of human population These characteristics include population size growth rate gender marital status ethnicity income and so forth Currently the world population is over 6 billion but by 2050 it is expected to rise to around 9 billion and India is expected to take the lead in population with 15 billion with China at around 13 billion Also the number of people older than 65 will more than double in the coming decades while the number of youth will grow at a much lower rate The Canadian population is around 34 million and expected to be 39 million by 2050 with a growing older and more ethnically diverse population Baby Boomers are those born between 1946 and 1964 Generation X saw a decline in birth rate and consisted of those born between 1965 and 1976 Generation Y those born between 1977 and 1994 The Canadian Family has changed greatly over the years where single parents are more common and socially acceptable This has brought the rise of the blended family a family formed by the merging into a single family of two previously separated units The population shifts have shown more and more urban dwellers most Canadians live in census metropolitan areas CMAs geographic labor markets having a population of 100000 persons or more This is enabling marketers to reach large segments of the population more efficien
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