Management and Organizational Studies 1021A/B Chapter Notes - Chapter 2: Millennials, Technologic, Spamming

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Sarah Ross

Document Summary

Marketers review 6 areas of focus for marketing environments: demographic forces, socio-cultural forces, economic forces, technological forces, competitive forces, regulatory forces. Marketing environment scan the process of continually acquiring information on events occurring outside an organization to identify trends, opportunities, and threats to a business. Swot analysis assessing how well a company is servicing its business (strengths, weaknesses, opportunities, threats) Demographics the statistical data on a population according to characteristics such as gender, age, ethnicity, income, education and occupation: statistic data brought to you by statistics canada through its census every 5 years. An aging population: over the age of 50 control 75% of the net worth of canadian households, represents 13. 7% of the population, marketers target this market with products such as medicine, travel and health-related products. Diverse generations: four main generational groups of consumers: baby boomers, gen x, gen y (millenials) and gen z (the net generation) Lots of focus on technology, social media, health products.