MARK 201 Chapter Notes - Chapter 3: Marketing Mix, Social Forces, Social Actions
Document Summary
Social forces - occurring outside the organization to identify and interpret potential trends. The demographic characteristics of the population and its culture. Describing a population according to selected characteristics. The process of continually acquiring information on events such as age, gender, ethnicity, income, and occupation. Global income levels and living standards increasing. Markets based on age, life stage, family structure, geographic location, Self-reliant, supportive of racial and ethnic diversity, and better. 50 million people born between 1965 and 1976 = educated caution, pragmatism, and traditionalism. Less net worth than the previous baby boomer generation but becoming dominant force in many markets. 72 million americans born between 1977 and 1994 - increasing births resulting from baby boomers having children = echo-boom/baby boomlet. Influence on music, sports, computers, video games, and all forms. Social and environmental responsibility of communication and networking = . Gray divorce - divorce among baby boomers. One formed by merging two previously separated units.
