Questions and Answers
What is a significant market trend driven by consumer concerns regarding health and wellness?
How has the practice of yoga been perceived in recent trends?
What environmental issue is highlighted by the data regarding food waste?
What demographic trend has been observed in the last two decades regarding obesity in North America?
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Which aspect of the microenvironment is exemplified by Natasha Tonić's line of hemp swimwear?
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What product line expansions has Bulldog Skincare included since its founding?
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Which of the following focuses on sustainability in Bulldog Skincare's product range?
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Which option is NOT part of a company’s immediate environment?
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What does the acronym CDSTEP represent in the context of macroenvironmental factors?
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How do companies like Coca-Cola approach cultural differences in advertising?
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Which generation is classified as Digital Natives?
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Which of these options is a characteristic used in identifying consumer market demographics?
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What are the three distinct income classes in Canada?
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How has the shift in gender roles influenced marketing approaches?
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Which factor is least associated with a company's microenvironment?
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What is an example of a demographic trend that marketers often analyze?
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Which cohort includes individuals born between 1981 and 1992?
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Which factors are commonly considered in assessing purchasing power?
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What is one characteristic of the upper class in Canada?
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Which demographic trend has changed significantly over time?
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What is a common misconception about the purchasing power of middle-class families in Canada?
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Study Notes
Generational Cohorts
- Generational cohorts categorize people into age groups for targeted marketing, starting from 1946.
- Generation Z: Born after 1993, known as Digital Natives.
- Generation Y (Millennials): Born between 1981-1992.
- Generation X: Born between 1965-1980.
- Baby Boomers: Born between 1946-1964.
Income Statistics
- Income influences purchasing power, with many middle-class families experiencing a decline in recent years.
- The top 10% of Canadian households earn over $226,000.
- Canadians generally fall into three income categories: upper class, middle class, and lower class.
Education and Spending Power
- Education level directly correlates with income levels, shaping consumer spending power.
Gender Roles in Marketing
- Traditional male/female roles are evolving, prompting changes in marketing strategies.
- Bandai Namco Entertainment's “Bonnie-and-Clyde” tournament included mixed-gender teams to attract female gamers.
- Bulldog Skincare successfully targeted the male grooming market, expanding from men's face cream to a diverse product line.
Corporate Partnerships
- Companies often collaborate with suppliers and partners to enhance market reach and develop sustainable products, as seen with Nau's socially responsible apparel.
Macroenvironmental Factors (CDSTEP)
- Understanding the macroenvironment involves evaluating Culture, Demographics, Social trends, Technology, Economic measures, and Political factors.
Cultural Marketing Strategies
- Companies like Coca-Cola adapt advertising to fit both country cultures and regional subcultures, using similar themes across diverse markets.
Demographics
- Demographics encompass population characteristics that help identify consumer markets, such as age, gender, income, and lifestyle preferences.
Time-Poor Society
- Many parents work, leading to a society where leisure time is scarce.
- Consumers increasingly multitask to manage limited leisure time, highlighting the need for convenience in products and services.
Food Trends and Waste
- Food defines social trends and influences market demand for diet-related products.
- Canada ranks as a top offender in food waste, with 28% of municipal landfill waste being food due to overproduction.
Health and Wellness Concerns
- In Canada, 63.5% of adults are classified as overweight or obese; child obesity rates have doubled, and teenage obesity has tripled over the past two decades.
- CSPI has proposed guidelines for responsible food marketing to children, addressing concerns about unhealthy advertising practices.
- The rise of health-focused mobile apps aids consumers in tracking fitness, diet, and sleep, reflecting a growing interest in wellness.
- The practice of yoga is gaining popularity, aligning with increasing consumer focus on healthy lifestyles.
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Description
Test your knowledge on generational cohorts, particularly focusing on characteristics defining groups like Baby Boomers, Generation X, Y, and Z. This quiz explores demographics, behaviors, and societal impacts of different generations. See how well you understand these modern social constructs!
