Explain how changes in the demographic and economic environments affect marketing decisions.
Changes in demographics as well as the economic environment can create the need for change in marketing as marketing is a function of targeting the audience in order to be able to place the product better. Marketing utilizes the needs of the population they are trying to target and the key word here is “Specificity”. Marketing functions are specific to the requirements and therefore in order to be able to make the best possible process of marketing function possible for the company, they need to be able to adhere to the needs of the market. The changes in demographics also create the change I the inherent need of the population such as having cultural and age influences over the aspect of needs and the comprehension of the usefulness of any given material. Economic factors have the biggest implication of the marketing function in since the company would need to take into account the change in the value of the net profit margin they can exploit as well as if the marketing process, after its execution would be able to fully justify its conduction due to the increased implication of cost control and the requirement to change the strategy entirely.
Explain how changes in the demographic and economic environments affect marketing decisions.
How do economic conditions/consumer economic conditions affect consumer behavior, as well as the decisions that are related to the marketing function?
How is the demographic profile in the United States changing? How will these changes in demographics impact firms and their marketing decisions?
How do the political, economic, and legal environments of a country affect international trade? And what factors make a country favorable for doing business?
Explain how differences in economic systems, economic institutions, how the economy is organized, the rate of economic growth, or other economic factors such as GDP, inflation rate, interest rates, etc. that are different in Israel when compared to economic factors in the United States that can affect how business is conducted, the types of products you can sell, or, how differences in the economy can affect business decisions.
Explain how the Federal Open Market Committee’s decisions affect consumers.
How does the Freudian theory affect consumer behavior, as well as the decisions that are related to the marketing function?
How does the Psychoanalytic Model affect consumer behavior, as well as the decisions that are related to the marketing function?
How does the demographic transition that takes place due to medical innovations and urbanization affect the old-age dependency ratio? Explain using the dependency ratio formula and the determinants of population growth
Discuss how demographic change creates entrepreneurial opportunities. What are some current demographic changes and what opportunities do they create?
How do personal preferences/factors affect consumer behavior, as well as the decisions that are related to the marketing function?