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Chapter 3

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MKT 100
Najam Saqib

Trysumers – transient, experienced consumers who are becoming more daring in how and what they consume, thanks to a wide range of societal and technological changes. Environmental Scanning – The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends Environmental Forces Social Social: Trends Economic Technological  Growing diversity Competitive  Aging State of the economy  Obesity  eco-consciousness Economic:  Shift to the experience economy  Growth in electronic commerce Technological:  increase use of digital technologies and nanotechnology  dramatic growth if the open source software movement  advances in biotechnology, cosmetic surgery, and cancer drugs Competitive:  Growing influence of china as the world leader in manufacturing  mergers and acquisitions to create scale and improve competitiveness  increased focus on empowering works to improve performance Regulatory:  New legislation related to digital copyright, intellectual property protection, and consumer privacy,  Increased emphasis on trade  Deregulation of industries to encourage competition Baby Boomers – The generation born between 1946 and 1964. This group accounts for the majority of the purchases in most consumer product and services. Baby Boomers are now worrying for their children, grandchildren, their health
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