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Analyzing the marketing environment and opportunities

Analyzing the marketing environment and opportunities. Needs and Trends. To create new solutions to unmet needs. They are: A fad – unpredictable, short-lived, without social and economic significance. Trend

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Analyzing the marketing environment and opportunities

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  1. Analyzing the marketing environment and opportunities

  2. Needs and Trends • To create new solutions to unmet needs. They are: • A fad– unpredictable, short-lived, without social and economic significance. • Trend • Megatrends—large social, economic, political and technological changes are formed, they influence us for some time.

  3. Ten Megatrends shaping the consumer markets • Aging Boomers • Delayed retirement • The changing nature of work • Greater educational attainment– esp. among women • Labor shortages– in some areas • Increased immigration

  4. lli • Rising Hispanic influence • Shifting birth trends • Changing age structure • Widening geographical differences in population growth • con’d

  5. The Demographic environment • Worldwide population growth • Population age mix—the global trend toward aging population • For marketers, most populous age groups shape the mktg environment • Baby Boomers (1946-1964) 78 million • Generation Xers (1965-1976) 45 million

  6. Continued • Generation Y, ( born 1977-1994) or the echo boomers, they are 72 million strong. They are comfortable with computer and internet technology.

  7. Ethnic and Other Markets • According to the 2010 census, U.S. population of 312 million; • Hispanic accounts for 16%, fast growing population (50 million) • Blacks account for 13.5% • Asians– 5% • Whites– 64% • Disabled Americans—50 million • World population – 6,967 million

  8. Educational groups • Five educational groups: illiterates, high school dropouts, high school diplomas, college degrees, and professional degrees. • U.S. has one of world’s highest % of college-educated citizens– 36%.

  9. Household Patterns • Traditional household- a husband, wife and children – only a/c for 25%. • Nontraditional households– one out of eight • Married couple household– 48 % • Single H/H living along- 30% • Children born to single parent- 33% • Gay - est. 4-8 % of population

  10. Economic Environment • Income distribution (Medium HH income $49,445. Medium family income $61,556 in 2010, 1.3% dropped from 2009. CPI $47,580) • Saving, debt, and credit availability • Outsourcing and free trade

  11. Social-Cultural Environment • High persistence of core values, such as to work, in getting married, in giving to charity, and in being honest. • Existence of subcultures • Shifts of secondary cultural values ( such as getting married late)

  12. Natural Environment • Shortage of raw materials • Increased energy costs • Anti-pollution pressure • Changing role of governments

  13. Technological environment • Every new technology is a force for “ creative destruction” • Accelerating pace of change • Unlimited opportunities for innovation • Increased regulation of technological change

  14. Political-Legal Environment • Increase in business legislation • Growth of special interest groups (such as Tea Party Movement, Occupy Wallstreet Movement, Go green, etc. )

  15. Video: Market Diversity and Targeting

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