Ch 3 Outline - Chapter 3 Changes in the marketing...

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Chapter 3 Changes in the marketing environment are a source of opportunities and threats to managed. The process of continually acquiring information on events occurring outside the organization identify and interpret potential trends is called environmental scanning. Social, economic, technological, competitive, and regulatory forces These forces affect the marketing activities of a firm in numerous ways. Figure 3-2 The Social Forces Include the demographic characters of the population and its values. Changes in these forces can have a dramatic impact on marketing strategy. Demographics are describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation. Baby Boomers- 78 million born between 1946-1964; of the population… receptive to anything that makes them feel younger Generation X- 15 % of the population; consumers are self-reliant, entrepreneurial, supportive of racial and ethnic diversity, and better educated than any previous generation. Generation Y- 72 million born between 1977 and 1994. Influence on music, sports, computers, videogames, and especially cell phones. Cultural Incorporates the set of values, ideas, and attitudes that are learned and shared among the members of a group. Because many of the elements of culture influence consumer buying patterns, monitoring national and global cultural trends is important for marketing. Value Consciousness- the concern for obtaining the best quality, features, and
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Ch 3 Outline - Chapter 3 Changes in the marketing...

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