Environmental Trends 2008

Environmental Trends 2008

1/2/2008

DONE BY: Mia, Megan, Rizelle, Beate, Gia, Mpakie & Nastassja

A. Introduction

B. Environmental Trends

I. Social Trends

 Customization & Personalization

 Social Media and Networking

 Corporate Social Investment

 Outdoor Advertising

 Gaming

 Experiential Marketing

 Health Food Trend

II. Cultural Trends

 Status Spheres

 Premiumization

 Snack Culture

 Eco Ð'-Ionic

 Online Oxygen

 Brand Butlers

 MIY | Make It Yourself

 Crowd Mining

 Group Solving

 Experts 2.0

 That's what Friends are for

 A New Afroholistic Age

III. Political Trends

 Legislations

 Blackmail Advertising

 Food Labelling Legislation

 Copyright Legislation

 International agreements

C. Bibliography & Referencing

 

Intorduction

In order to be able to effectively appeal to consumers, marketers need consumer insight which refers to the process of understanding their mindsets, motivations and expectations, as well as any other aspects that may influence the way in which they make purchasing decisions.

Consumers of today are constantly changing. The new age consumer can no longer be thought of simply as an individual with a defined, fixed identity. Today consumption is part of the dynamic process whereby consumers construct their identities, and is also a part of forming the definition they build of themselves. In order to understand the complex decision making processes consumers are faced with, marketers need to understand people and their identities better. Enhanced consumer insight can deliver this understanding.

Not only have consumers changed, but so have their choices. Most markets today offer consumers so many different choices, perhaps even sometimes to many. It is key to understand what it is that drives consumers' choice in any product category, therefore this has become one of marketers' main concerns. Understanding what makes consumers tick is fundamental to this understanding, and to be able to appeal and market effectively to them.

Consumer frameworks have also changed. There has been a gradual shift in society from an Ð''age of deference' (the Industrial age) to an Ð''age of reference' (the technological), and this technological shift is rapidly accelerating. There has been a complete reversal in those groups of people who consumers trust. Ordinary people within society are believed to be more trustworthy in the eyes of today's consumers; whereas respect and trust in governments, leaders and celebrities has decreased.

Consumers themselves have also changed. People are not simply people any more. Concepts of individuality have become more complex, where one person can encompass several different identities and fulfill many different roles.

Businesses in today's world need to be idea-led, consumer-informed and orientated. Companies need to work with various sources and continually analyze and monitor the environment in order to maximize the companies understanding of their consumers. Experts in various fields need to continually scan the environment in order to detect opportunities, threats and trends within the industry.

Understanding consumers can lead to the recognition of various consumer trends within any given industry. Following and perusing these trends are key in order to maximize a company's profitability. Trends are constantly emerging and evolving and markets need to keep up to date with these changes.

There are various, different trends within consumer markets today, however this document shall be focusing on various environmental trends in today's marketing environment, specifically with regards to social, cultural and political trends.

Environmental Trends

Environmental trends fall under the macro environment, which refers to all the external environmental forces that will impact on a business and its marketing capabilities. These elements also influence the growth and continual existence of the enterprise which encourages or hinders the achievement of objectives. Trends resulting from the macro environment are external and hence uncontrollable; therefore it's crucial that one continuously scans the environment to pick up on trends that may impact on a company's marketing activities. The impact of such trends will not only be relevant to marketing perse, but also to the way in which consumers behave, as well as their consumption patterns.

The three main environmental elements which are focused on in this document are, namely social, cultural and political. Trends relating to each of these elements will be discussed throughout the following pages.

I. SOCIAL TRENDS

Social change and trends are one of the most difficult external variables for marketers to forecast or integrate into the marketplace. People become products of their communities and they accept and adhere to its language, values,