MKT 100 Chapter Notes - Chapter 3: Baby Boomers, Plastic Surgery, Consumer Privacy

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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
Social
Economic
Technological
Competitive
State of the economy
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.
Environmental Forces
Social:
Growing diversity
Aging
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
Trends
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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.

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