COMMERCE 2MA3 Chapter Notes - Chapter 3: Baby Boomers, Market Environment, Social Forces
22 Apr 2015
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Document Summary
Web 2. 0-is used to describe the changes in the world wide web that reflect the growing interest in collaboration, open sharing of info, and customer control. Environmental scanning-the process of continually acquiring info on events occurring outside the organization to identify and interpret potential trends. Is critically important to marketers who wish to ensure that they. Environmental trends typically arise from five sources: social (includes demographic characteristics), economic, technological, competitive and regulatory forces. Successful scanning: identifying trends, understanding the reasons behind the trends, and taking action to respond to such trends. It is expected that the number of ppl older than 65 will more than double in the coming decades, while the number of youths will grow at a much lower rate. By 2050, 32% of canadas popl will be older than 60. Economic progress in the developing countries will lead to growth in entrepreneurship; new markets for infrastructure related to manufacturing, communication, and distribution; and the growth of exports.
