Chapter 4 - Chapter 4: Analyzing the Marketing Environment...

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Chapter 4: Analyzing the Marketing Environment Ii. Macroenvironment Demographic Environment . Demography: Study of human populations in terms of size, density, location, age, gender, race, occupation . Baby Boomers: 9.8 million Canadians born post WWII - mid 1960's. (1947 - 1966) o Wealthy (50% of world's income) . Generation X: 7 million Canadians born between 1967 - 1976 "birth dearth" . Millennials/Generation Y: 10.4 million children of Baby Boomers, born between 1977 - 2000 Economic Environment . Factors that affect consumer buying power/ spending patterns . Industrial economics: rich markets for various goods . Subsistence economies: consume most own agricultural/industrial output (offer few market opportunities) . Developing economies: offer outstanding marketing opportunities for right kinds of products . Engel's laws: Ernst Engel (a century ago) - differences in how people shift their spending across food, housing, transportation, health care, and other goods & services categories as family income rises
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Natural Environment . Natural resources needed as inputs by marketers or that are affected by marketing activities . Must note trends in natural environment: shortages of raw materials, increased pollution, increased government intervention, environmental sustainability (developing strategies and practices that create a world economy that the planet can support indefinitely), Technological Environment . Forces that create new technologies, creating new product and market opportunities Political and Social Environment . Laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society . Public policy - developed by governments; sets of laws and regulations that limit business for the good of society as a whole . Business Legislation - laws covering issues such as competition, fair trade practices, environmental protection, product safety, truth in advertising, consumer privacy, packaging and labelling, pricing . Enacted to protect companies from each other, protect consumers from unfair business practices, protect the interests of society against unrestrained business behaviour . Increased Emphasis on Ethics and Socially Responsible Actions, Behaviour, Cause-Related Marketing (to exercise social responsibility and build more positive images; has becoming a primary form of corporate giving)
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Cultural Environment . Institutions and other forces that affect society's basic values, perceptions, preferences, and behaviours . Persistence of Cultural Values, Shifts in Secondary Cultural Values, People's View of Others, People's Views of Organizations, People's views of society, People's views of nature, People's views of the universe Responding to the Marketing Environment . Uncontrollable element to which they must react and adapt;
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Chapter 4 - Chapter 4: Analyzing the Marketing Environment...

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