COMM223Macro-environmentalImpactClass6

COMM223Macro-environmentalImpactClass6 - Major Forces(Put...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Major Forces (Put in order of most impactful to least impactful) Technological : Technology has always moved at a incredibly fast pace. In today’s world if you don’t adapt to the changes in technology your company or product will never reach the market. Our product is a revolutionary technological advancement in medicine. However, as a company we know there will be competition in the macroeconomy. We believe that the biggest threat to face our company will be technological advancements. Many other companies will see what we're doing and try and improve on it. Making their products faster, smaller, more efficient and more customer friendly. As a company that recognizes this threat we will work tirelessly on consistently improving upon our DocNostix. Demographic: Demographic forces can exert powerful influences on our product and employment markets. Our product is targeting the elderly, principally baby boomers (1946 - 1964). In 2011, 29% of the total population of Quebec were baby boomers. This target market of retired people have considerable spending power. We state that the demand will be strong due to the aging population, which will result in an increasing amount of congestion in the health services (hospitals, clinics, etc.). DocNostix will avoid that, which will positively impact and affect our sales. Economic : According to the Business Dictionary, the economic environment is “the totality of economic factors, such as employment, income, inflation, interest rates, productivity, and wealth.” Those factors determine and greatly influence the buying behavior of potential customers. (Business Dictionary). The health sector in Quebec is spending 33% of its budget on healthcare; this represents $33.74 billion. Given the increasing amount of money the government invests in the healthcare system, a solution has to be found to diminish the growth of those expenses, considering the aging of the population. The DocNostix could help the taxpayers save money by increasing efficiency in the hospitals.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern