MKTG 2800 Chapter Notes - Chapter 3: Baby Boomers, Market Environment, Social Forces
5 Jul 2017
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Document Summary
Environmental scanning- the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends. Environmental trends arise from five sources: social, economic, technological, competitive, and regulatory forces. Social forces- include the demographic characteristics of the population and its culture. Demographics- describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation. Us population is becoming larger, older, and more diverse. Self-reliant, supportive of racial and ethnic diversity, better educated than any previous generation. One in three us residents is black, native american, asian, or native hawaiian/pacific islander. Multicultural marketing- combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races. Culture- culture incorporates the set of values, ideas, and attitudes that are learned or shared among members of a group.
