Analyzing the Marketing Environment - The Demographic Environment / The Economic Environment
9 important questions on Analyzing the Marketing Environment - The Demographic Environment / The Economic Environment
Why is generational marketing important in segmenting people?
What's the difference between the buying style of the following population types; baby boomers, generation X, Generation Y (millennials), Generation Z, Generation Alpha?
Generation x: skeptical bunch. Sensible shoppers who research products heavily before they purchase. Prefer quality over quantity.
Millennials: engage with brands in a new way due to social media. You need to do marketing campaigns aimed at their lifestyle.
Generation Z: hard to pin down. Key is to engage them in the process and brand experience.
Generation Alpha: will be the wealthiest generation ever. You must build up loyalty into their later lives.
What are the trends in the natural environment?
2. Increased pollution
3. Increased government involvement
4. Companies developing strategies for which are environmentally sustainability
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What does environmentally sustainble mean?
Name 3 types of distribution of income in different countries?
2. Developing economies
3. Subsistence economies
What do companies do to be more environmentally sustainable?
2. Bio-degradable packaging
3. More pollution control
4. More energy-efficient operations
Millennials (or Generation Y)
What is a developing economy?
What is a subsistence economy?
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