Review the following list of macro-environment changes/trends. For each one, work out how it is changing and then determine whether (and how) it will impact marketing activities. As we know, there are three key aspects to an environmental scan; identify the environmental change, determine its likely impact, and how firms can turn this challenge into a market opportunity.
(Note: The first trend for has been completed for you to provide an example.)
How Impact Marketing?
|Types of families||More diversity of families – such as couples with no kids, blended families, marriages at later ages, increase in single households, and so on||
|Use of Smart phones|
Consumption of entertainment and experience products
|Power of retailers in the supply chain|
|Spending power of teenagers|
|Attitude to the natural (green) environment|
|Economic development in BRIC countries (Brazil, Russia, China and India)|
- Start by completing the sections in the above table.
- Based on your assessment, which environmental trends represent a market opportunity and which ones represent significant threats for:
- Walmart (retailers)
- Apple (computers/phones)
- Kellogg’s (food processors/manufacturers)
- KFC (fast food)