Chapter 2 - The Marketing Environment

6 Pages

Management and Organizational Studies
Course Code
Management and Organizational Studies 1021A/B
James O' Brien

This preview shows pages 1 and half of page 2. Sign up to view the full 6 pages of the document.
Chapter 2the Marketing Environment Marketers scan the marketing environment in six key areas looking for factors that are important or changing which are y Demographic forces y Sociocultural forces y Economic Forces y Technological Forces y Competitive Forces y Regulatory Forces Marketing Environmental Scan the process of continually acquiring information on events occurring outside the organization to identify trends opportunities and threats to your business Demographic Forces Demographics is the statistical data on a population according to characteristics such as age gender ethnicity income and occupation An Aging Population y The percentage of the population over the age of 55 continues to increase due to low birth rates and better health care y People over the age of 50 control 75 of the net worth of Canadian households y Canadian populationBaby Boomers96 millionGeneration X39 millionGeneration Y87 millionand y The elderly populations in Canada likely to spend their resources on TravelHealthcare y Baby boomers generation of people born between 1946 and 1964during baby boom families averaged 4 children Current average is 154group now accounts for 60 of expenditures on consumer goodsservices y Generation X people born between 1965 and 1976not as brand loyal as baby boomerstend to be more selfreliant entrepreneurial and better educatedless prone to materialism and extravagance than baby boomersbecoming a key influence in the market y Generation Y people born between 19751995mostly children of baby boomers referred to as the echo boom
More Less
Unlock Document

Only pages 1 and half of page 2 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.