MKT 100 Chapter Notes - Chapter 3: Baby Boomers, Plastic Surgery, Consumer Privacy
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MKT 100 Full Course Notes
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Document Summary
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. Growth in electronic commerce increase use of digital technologies and nanotechnology. Dramatic growth if the open source software movement. Advances in biotechnology, cosmetic surgery, and cancer drugs. 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 and their retirement. Companies need to position products to respond to these interests. Generally they are receptive to anything that makes them feel younger. They are also experiencing health problems related to ageing. Growing influence of china as the world leader in manufacturing. Mergers and acquisitions to create scale and improve competitiveness.
