19. Age Distribution of the U.S. Population (78 million people born 1946-1964) One of the most powerful forces shaping the marketing environment, 30% of population (45 million people born 1965-1976) More skeptical, cynical of frivolous marketing pitches promising easy success (72 million people born 1977-1994) Fluent and comfortable with computer, digital, and Internet technology (Net-Gens) Baby Boomer Generation Generation X Echo Boomer Generation
20. Key U.S. Demographic Trends Changing Age Structure Population is getting older Changing Family Structure Marrying later, fewer children, working women, and nonfamily households Geographic Shifts Moving to the Sunbelt and suburbs (MSA’s) Increased Education Increased college attendance and white-collar workers Growing Ethnic and Racial Diversity 72% Caucasian, 13% African-American, 11% Hispanic & 3% Asian
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24. Economic Environment Global Economic Development Changes in Income Changing Consumer Spending Patterns Key Economic Concerns for Marketers
36. Political Environment Increasing Legislation Changing Government Agency Enforcement Includes Laws, Government Agencies, Etc. that Influence & Limit Organizations/ Individuals in a Given Society Increased Emphasis on Ethics & Socially Responsible Actions
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47. Source: Adapted from M. E. Porter, Competitive Strategy, Free Press, 1980, p. 4. Threat of substitutes Potential entrants Threat of entrants Suppliers Bargaining power Substitutes Buyers Bargaining power COMPETITIVE RIVALRY Five forces analysis
50. Environmental Scanning Determine Environmental Areas That Need to Be Monitored Determine How the Information Will Be Collected Implement the Data Collection Plan Anaylze and Use the Data in Planning
