Week 4 - Macroenvironment

Question 1

The macroenvironment is the broad, external forces that impact on an organisation. Name & define.

Answer 1

Demographic - trends in population change and makeup.
Economic – overall economic climate.
Natural - environment, climate, disaster,disease.
Technological – impact of new tech.
Political – gov regulation and attitudes.
Cultural – core values of cultural groups

Question 2

Name some recent demographic trends

Answer 2

Changing age structure of population (boomers 7m 46-64, xers 4m 65-76, y's 8.5 77-00.
Changing family unit.
Geo shifts in pop
Diversity through migration
Gay, Pink and Dink dollar.

Question 3

Name recent economic trends

Answer 3

GFC
Low interest rates
High aussie dollar

Question 4

Name recent natural environment trends

Answer 4

climate change
Food & water shortages,
Greening of commerce & gov

Question 5

Name recent technological trends

Answer 5

Always on communications
Mobile phones & tablets
GPS product tracking
Affordability

Question 6

Name recent political trends

Answer 6

Increasing regulation over time.
Competition & consumer act beefing up enforcement
Trend in ethical behaviour & accountability
Cause related marketing

Question 7

Define cultural trends

Answer 7

The forces affecting a societies basic values, perceptions, preferences & behaviours.
Core values = from gen to gen.
Secondary = can be influenced

Question 8

Define primary research

Answer 8

The collection of original data by way of a research study is termed primary research. Primary research is designed to answer specific questions and data is gathered directly from the market or the “field”

Question 9

Define secondary research

Answer 9

Secondary sources are materials that have been produced for a different purpose that you can find and use for your own information needs