ADM2320X summer 2008-ch 3

ADM2320X summer 2008-ch 3 - Scanning the marketing...

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1 Scanning the marketing environment Chapter Three
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2 Environment scanning The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends. Factors in the environmental external to the firm are: Social Economic Technological Competitive Regulatory
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3 Social forces Demographic shifts Population size, growth rate, gender, marital status, ethnicity, income, education Cultural changes Changing attitudes and values
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4 Demographics: Global population trends Global: new emerging markets (BRIC – Brazil, Russia, India and China); rising incomes, new middle class; younger population, entrepreneurial; industrializing & modernizing rapidly (high economic growth rates) Aging boomers; more disposal savings; growth in demand for health and beauty; travel; retirement care; mature economies (low growth economic growth rates)
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5 Canadian population Canada’s population (about 33 Million) is getting older and more diverse By 2011l: 15% of population is over 65 years of age 10% of population is under 10 years of age Birth rate is declining Immigration accounts for population growth Generational cohorts: Baby boomers Generation X Generation Y
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6 Baby boomers (born between 1946 – 1964) Baby boomers account for majority of purchases in most consumer product and service categories They have amassed significant personal savings while in labour force and net worth due to appreciated residential real estate values Demand goods and services related to: Health and beauty (anti-aging) Leisure travel and tourism Retirement living and care Transferring wealth to younger family members
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7 Generation X – the baby bust (born between 1965 – 1976) Approx. 15% of total Canadian population Birth rate on decline Generally, these are consumers who are: Self-reliant Entrepreneurial Supportive of ethnic diversity Better educated than previous generations Becoming the new parent market for “family mini-vans”
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8 Generation Y – the echo boom
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This note was uploaded on 12/08/2009 for the course TEFLER ADM1300 taught by Professor Koppel during the Fall '09 term at University of Ottawa.

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ADM2320X summer 2008-ch 3 - Scanning the marketing...

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