MOS 1021A Chapter 2 - MOS 1021A Chapter 2 – The Marketing...

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Unformatted text preview: MOS 1021A Chapter 2 – The Marketing Environment Non governmental organization – Childhood Cancer Foundation Candlelighters Canada - Targets the users of the service, the volunteers of the organization, the contributors of the cause o The use of internet Became pivotal to user-friendly, sophisticated interaction and communication tools Personalized, interaction and instant donation processes saved time an simplified the act of charity o Relate to consumers on their terms o The internet has changed the ways that consumers collect information, communicate with each other and contribute to causes and it taps into this consumer insight in exciting new ways, creating personal connections that count The marketing Environment - Markets do not function in a vacuum and need to channel their ideas and programs on meaningful consumer needs that address changes that are occurring in the marketplace- Marketers constantly monitor the marketing environment with a view to capitalizing on new opportunities and thwarting potential threats that may surface in their businesses o Demographic forces o Socio-cultural forces o Economic forces o Technological forces o Competitive forces o Regulatory forces A marketing environmental scan- Process of continually acquiring information on events occurring outside the organization to identify trends, opportunities, and threats to a business o Ensure that their products, services and ideas are relevant and meaningful o Competitive marketing programs that meet consumer needs and bring revenues into company Demographic forces- Statistical data on a population according to characteristics such as age, gender, ethnicity, income and occupation o Important to understand changes that are occurring in the demographic arena to ensure marketing efforts are well placed- An aging population o More likely to spend their income on healthcare or traveling - Diverse Generations o Baby boomers 1946-1966. 60% of expenditures on consumer goods and services Redefining the concept of aging with a keen interest in health, self-image, and retirement o Generation X 1966-1975. Not brand-loyal, self-reliant, entrepreneurial, better educated Less prone to materialism and extravagance o Generation Y 1975-1995...
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This note was uploaded on 10/16/2011 for the course ENGLISH 101 taught by Professor Parkin during the Summer '11 term at Wilfred Laurier University .

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MOS 1021A Chapter 2 - MOS 1021A Chapter 2 – The Marketing...

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