Assessment 1 Plan.pdf

Assessment 1 Plan.pdf - Family Name Given Name Orozco...

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Family Name : Given Name: Orozco Cardoso Maria Alejandra Student ID : Course: S40053825 Diploma Marketing and Communication Subject : Trainer’s name : Marketing and Communication Plan Lucy Panda Declaration : I certify that this assignment is entirely my own work. I have provided full referencing to the work of others. The material in this paper has not been submitted before. Assessment 1 Written or Oral Questions Complete the following individually Answer each question in as much detail as possible, considering your organisational requirements for each one. All answers will vary depending on the learner and the organisation they work for but the learner should be able to answer each question competently. 1.How are economic, social and industry trends relevant to the choice of appropriate media options? Economic Looking first at economic and marketplace change, a few major trends are evident. Strong economic growth, more open markets and high levels of technological change have produced significant benefits for consumers over the last two decades, which have also featured higher average incomes, on the whole. These changes have produced less expensive, more reliable and more convenient goods and services, and the speed with which new products and services diffuse and grow in the marketplace is certainly bringing benefits to consumers at a rapid rate. However, keeping up with these changes and learning how to adapt to them, and benefit from them, is a major challenge for consumers. The skills that they develop to use many technologically complex goods and services can quickly become outdated. The deregulation and opening to competition of formerly regulated markets, such as financial services, or energy and telecommunications utilities, has brought more options and choice to consumers, but also greater challenges for them in sorting out marketing claims and the potential costs and benefits of these service offerings. In essence, the modern consumer marketplace is becoming an information-intense, complex and radically changed place. Knowing how to process large volumes of information and understanding the implications of what very complex product and service offerings or transactions can be are important skills for today' s consumer.
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Social The social circumstances of consumers are also undergoing significant change. Not only is the demographic bulge of the baby-boom generation leading to a much older population, with different consumption requirements, but traditional family structures are also changing, with fewer children, a larger proportion of two-parent families in which both parents work, more lone parents and more people living on their own. Many consumers in these groups, particularly two-parent working families, and especially lone parents, have significant time management issues and may have difficulty finding the time to cope with the quantity and complexity of the marketplace information they need to assess.
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