BUS 450 Lecture Notes - Lecture 4: Baby Boomers, Millennials

• School: Humber College
• Department: Business
• Course: BUS 450
• Professor: Eli Lewin

Document Summary

International market- consist of buyers from other countries. The larger societal forces that affect the microenvironment; demographics, economic, natural, te(cid:272)h(cid:374)ologi(cid:272)al, politi(cid:272)al a(cid:374)d (cid:272)ultural for(cid:272)es. There are 6 (cid:373)ajor for(cid:272)es i(cid:374) a (cid:272)o(cid:373)pa(cid:374)y"s ma(cid:272)roe(cid:374)vior(cid:374)(cid:373)e(cid:374)t. : demographics forces- changes in the world demographic environment have major implications for business. Therefore, marketers keep a close eye on demographics trends and developments in their market. Currently, in canada there are three types of demographics: baby boomers- people born after the end of world war ii. They are the wealthiest of all the three generations: generation x- people born during 1967 to 1976. Some people born in this generation are still building their career: generation y- people born during 1977 to 2000. Economic factors can have a dramatic effect on consumer spending and buying behaviour: natural forces- the natural environment involves the natural resources that are needed as inputs by the marketers or that are affected by marketing activities.