Management and Organizational Studies 1021A/B Chapter : Textbook Notes - Jan 16, 18.docx

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: James O' Brien

Document Summary

Marketers scan the marketing environment in six key areas, looking for factors that are important or changing. They are: demographic forces, socio-cultural forces, economic forces, technological forces, competitive forces, regulatory forces. The statistical study of populations is referred to as demographics: it looks at characteristics such as age, gender, ethnicity, income, and occupation of a group of people. Information is received by stats canada or through marketers own surveys. An aging population: people over the age of 50 control 75% of the net worth of canadian households. Diverse generations: baby boomers are people born between 1946 and 1965. They are the main reason for the greying of north america. Keen interest in health, self-image, and retirement: generation x is the group of people born after the baby boomers, between 1966 and 1974. Not as brand loyal and tend to be more self-reliant, entrepreneurial, and better educated.