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Chapter 3 Analyzing the Marketing Environment Demographic Environment •Baby Boomers –Born 1946 to 1964 –rethinking the purpose and value of their work, responsibilities, and relationships –spending more carefully and planning to work longer –the wealthiest generation in U.S. history The more active boomers—sometimes called zoomers, or baby boomers with zip—have no intention of abandoning their youthful lifestyles as they age. They have a thirst for adventure, and the financial freedom to explore that passion •Generation X includes people born between 1965 and 1976 –High parental divorce rates –Cautious economic outlook –Less materialistic –Family comes first From a marketing standpoint, the Gen Xers are a more skeptical bunch. They tend to research products before they consider a purchase, prefer quality to quantity, and tend to be less receptive to overt marketing pitches. They are more likely to be receptive to irreverent ad pitches that make fun of convention and tradition. The first to grow up in the Internet era, Generation X is a highly connected generation that embraces the benefits of new technology. Some 49 percent own smartphones and 11 percent own tablets. Of the Xers on the Internet, 74 percent use the Internet for banking, 72 percent use it for researching companies or products, and 81 percent have made purchases online. Ninety-five percent have a Facebook page. The Gen Xers have now grown up and are taking over. They are increasingly displacing the lifestyles, culture, and values of the baby boomers. They are moving up in their careers, and many are proud homeowners with growing families. They are the most educated generation to date, and they possess hefty annual purchasing power. They spend 62 percent more on housing, 50 percent more on apparel, and 27 percent more on entertainment than the average. However, like the baby boomers, the Gen Xers now face growing economic pressures. Like almost everyone else these days, they are spending more carefully. What is the single most important demographic trend in the United States today?68) The single most important demographic trend in the United States is the changing age structure of the population.
Which type of market buys goods and services to transfer them to others who need them?Government markets buy goods and services to produce public services or transfer goods and services to others who need them.
Which of the following is a trend that marketers should be aware of in the natural environment?Marketers should be aware of several trends in the natural environment. The first involves growing shortages of raw materials. Marketers need to rely less on nonrenewable resources and use renewable resources more wisely. A second environmental trend is increased pollution.
Which of the following is a component of a firm's microenvironment?Six components of micro environment are: Company, Suppliers, Marketing Intermediaries, Competitors, General Public and the Customers.
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The gen xers are increasingly displacing the lifestyles, culture, and values of the baby boomers.
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