305 Social Factors Flashcards

1
Q

what are demographic changes?

A

changes in the population such as an ageing population or a decrease in the birth rate.

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2
Q

what are lifestyle changes?

A

changes in people’s behaviour, habits and living conditions and attitudes resulting in new products/marketing eg becoming more health conscious or clubbing less.

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3
Q

what is cultural change?

A

culturally diverse populations with differing lifetsyles, attitudes and tastes.

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4
Q

what are ethical perspectives?

A

increase of social enterprises where businesses focus on social objective>profit.
driven in reaction to businesses often being unethical.

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5
Q

what is a social audit?

A

voluntary inspection of environmental/ethical data setting out strategies for improvement.

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6
Q

what type of business could ageing population be good for? (demographic change)

A

holiday companies

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7
Q

what type of business could increased demand for flexible working benefit? (lifestyle change)

A

technology businesses

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8
Q

what type of business could an ageing population threaten? (demographic change)

A

social media platforms - may have to adapt

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9
Q

what type of business could the want for increased ethicality benefit? (ethical perspective)

A

socially aware brands like lush

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10
Q

how can customer benefit from businesses keeping up with social change such as ethics?

A

more likely to get better quality products.

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11
Q

how can businesses focusing on ethical changes threaten a business?

A

if they don’t have strong brand loyalty and costs (prices) increase, customers will go elsewhere

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12
Q

how can population changes such as migration benefit a business?

A

higher demand so higher revenues.

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13
Q

how can population changes such as migration threaten a business?

A

they may not be able to afford expansion and deal with capacity.

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14
Q

what does the importance of social factors depend on?

A

how business responds to change
size of change
pace of change
whether change leads to increase/decrease of demand.

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