Chapter 2 Flashcards
What is an environmental scan?
- often the first step in a SWOT analysis
- noting an responding to changes in the six key areas can result in more effective marketing programs
steps in environmental scan
- collect the facts and identify trends
- determine impact that this fact/trend will have on the business
- brainstorm, evaluate and implement ideas to meet business objectives
6 key areas of the marketing environment
demographic, sociocultural, economic, technological, competitive, regulatory
what are demographic forces?
study of human populations, factors such as age, gender, ethnicity, income, education, occupation, geographic region, strategic decisions often based upon shifts in demographics
for demographic forces as an aging population, who are the top two countries in aging population and who has the youngest?
top 2: japan and germany
bottom 2: canada, united states
estimated by 2035… how many canadians over the age the age of 65?
10 million
baby boomers
1947 - 1965
9.6 million
wealthy, educated, downsizing, health issues
high internet 75% and smartphone 61%
generation x
1966 - 1980
7.2 million
highly education, family driven
experientially drive, less materialistic and extravagant
millennials (gen y)
1981 - 2000
9.6 million
tech savvy
personally centered
music, technology and sports purchases
generation z
2001 or later
5.1 million
online and social media connectivity
fastest growing country
canada
province in canada that didn’t grow
new brunswick
province that grew the most
nunavut
dominant house hold composition and why?
one person house hold
age, population, economic independence, and increase in separation / divorce
trends in families that should be accounted for when looking into family composition
DINK
common law relationships
same sex couples
multi generational families
crowded nest syndrome
most active social media platforms
- youtube
- fb
- fb messenger
trends in food consumption
- people need clarity of what to eat
- switching from processed to fresh, local
- ethnic food becomes mainstream
- ready to eat fresh meals and delivery
trends in healthy living
gym memberships going up, tracking applications, and wearable technology
canadians are most likely to recycle, buy used or pre owned goods.
what percentage of canadians consider themselves ethical shoppers?
60%
what percentage of canadian shoppers would pay more for ethically sourced goods?
75%
macro economic forces that affect marketing
state of country’s economy as a whole
growth rate
inflation rate
unemployment rate
consumer confidence indexes
microeconomic forces that affect marketing
directly refers to the supply and demand of goods and services and how this is impacted by individual household, and company decisions to purchase.
what is discretionary income?
income after clothing, food, shelter, and taxes
what are technological forces that affects marketers?
the influx of new devices and apps; this affects things like e commerce, access to the internet, privacy, online videos, music, cloud based services
