PEST - Social Flashcards
What are demographics
The socioeconomic characteristics of a population statistically such as age, sex, education level, income level, marital status, occupation, religion, birth rate, death rate, average size of family, average age of marriage.
Key demographic changes
Average population size
Average earnings
Average population age
Patterns of Migration
UK Population change
A growing population in the UK presents businesses with increased opportunities
Higher levels of demand for goods are a result of an increase market size
An ageing population presents firms with the chance to target an increasing number of people with healthcare products, insurances and private pensions
Consumer Tastes
The invention of the intersnt and e-commerce have revolutionised marketing and led to a generate of well informed consumers who are prepared to shop around to find the best deals.
Brand loyalty is far more fluid than it once was, whilst consumers now expect fast delivery and range of bespoke products.
Changing UK social trends
Working women
Mobile technology
Health conscious
Environmental conscience
Convenience
Consumer Lifestyle
Health — Modern UK resisdants are far more concerned about their health.
Businesses have developed around these changing tends with growth in diets, health clubs, spa treatments and other fitness activities.
Family - ever increasing rates of divorce have seen a growing trend for more single occupancy housing e.g flats.
With parents likely to be working in the day there has also been a boom in the childcare industry.
Cultural - over the last 30-40 years the Uk has changed and become more multicultural. E.g the UK favourite food is now curry instead of fish and chips.
Social changes and business
Marketing - Modern use of electronic media. Changes in age, ethnic mix and income in UK society has changing the product that they sell.
Operations - demand for flexible working and short to working with longer holidays might impact upon the UK level of productivity and output.
Finance - Changing social habits, e.g. eating and drinking out more influences business behaviour.
People - flexible working patterns and more part-time staff has had a knock on effect upon shopping habits and spending.
