Lo2 describe how social forces such as demographics

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Unformatted text preview: marketing programs. Several trends that most businesses are monitoring include the increasing diversity of the U.S. population, the growing economic impact of China and India, and the dramatic growth of customergenerated content. LO2 Describe how social forces such as demographics and culture can have an impact on marketing strategy. Demographic information describes the world population; the U.S. population; the generational cohorts such as baby boomers, Generation X, and Generation Y; the geographic shifts of the population; and the racial and ethnic diversity of the population that has led to multicultural marketing programs. Cultural factors include the impact of values such as “health and fitness” on consumer preferences. LO3 Discuss how economic forces such as macroeconomic conditions and consumer income affect marketing. Economic forces include the strong relationship between consumers’ expectations about the economy and their spending. 74 Gross income has remained stable for more than 30 years although the rate of saving has been declining. LO4 Describe how technological changes can affect marketing. Technological innovations can re...
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This document was uploaded on 01/30/2014.

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