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Published byRobyn Lynch Modified over 9 years ago
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Analyzing the marketing environment and opportunities
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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.
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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
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lli Rising Hispanic influence Shifting birth trends Changing age structure Widening geographical differences in population growth con ’ d
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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
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Continued Generation Y, ( born 1977-1994) or the echo boomers, they are 72 million strong. They are comfortable with computer and internet technology.
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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
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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%.
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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
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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
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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)
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Natural Environment Shortage of raw materials Increased energy costs Anti-pollution pressure Changing role of governments
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Technological environment Every new technology is a force for “ creative destruction ” Accelerating pace of change Unlimited opportunities for innovation Increased regulation of technological change
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Political-Legal Environment Increase in business legislation Growth of special interest groups (such as Tea Party Movement, Occupy Wallstreet Movement, Go green, etc. )
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Video: Market Diversity and Targeting
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