Marketing 4

• 1) social
• 2) demographic
• 3) economic
• 4) technological
• 5) political and legal
• 6) competitive

attitudes, values, lifestyle

self sufficiency (most important), upward mobility, work ethic, conformity

practice of choosing goods and services that meet ones diverse needs and interests rather than conforming to a single, traditional lifestyle

study of peoples vital statistics, sich as their age, race, ethnicity, and location

individuals born during the dramatic increase of births between 1946-1964. 77 million of them. largest demographic segment.

40 million born between 1965-1978. matured during difficult economic conditions in the U.S. savvy and cynical consumers

• aka echo boom generation, 78 million. children of original baby boomers born 1979-1994. purchasing power of $200 billion annually
• -strong sense of independence and autonomy
• -assertive, self-reliant,emotionally and intellectually expressive, innovative, and curious

marketers are increasingly targeting these older millennials . ages 8-14. population of 29 million, purchasing power of $39 billion

• spending power of ethnic markets:
• -hispanics: $1 trillion
• -african americans: $921 billion
• -Asian Americans: $526 billion
• diversity can result in bottom line benefits to companies

• -about 1 in 3 U.S. residents is a minority, representing 100 million people
• - 7 states more than tripled their hispanic population: Alabama, Arkansas, Georgia, NC, SC, Tenn, Nevada
• - 20% of babies born in U.S. are Latino

• 1) distribution of consumer income
• 2) inflation
• 3) recession

• 1)pure research that aims to confirm an existing theory or to learn more about a concept phenomenon
• 2)an attempt to develop new or improved products

• Laws and regulations protect:
• -new technology
• -society
• -businesses
• -consumers

• -firms must work harder to maintain profits and market share
• -more foreign firms are entering U.S. market