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Terms in this set (63)

People: Baby Boomers born bewteen1945-1960.

Differ significantly from previous generations in their education, expectations, and value systems. The distinct purchasing patterns of this group have affected product and service innovation, technological change, and marketing and promotional activities.

Other population-related pressures for change include the increasing numbers of senior citizens and people born after 1960. The large number of senior citizens is affecting part-time employment practices, the marketing of everything from hamburgers to packaged tours of Asia, and service areas such as healthcare, recreation, and finance.

The post-1960 generation of workers, often called Generation X, who entered the job market in the 1980's were different from the baby boomers.

Sociologists and psychologists have identified a new group, often called Millennials,
born from roughly between 1980 and 2000, who seem to be experiencing a distinct and separate life stage in between adolescence and adulthood in which young people may jump from job to job and relationship to relationship, often living at home with few responsibilities and experimenting with life.

The increasing diversity of the workforce in coming years means significant changes for organizations.

Technology: Advances in information technology. More information is generated faster. Information circulates more quickly.

Information processing and Communication:

Rapid and fastest growing aspect of advances in information processing and communication.

Competition:

Most markets are international due to decreasing transportation costs and organizations increasing orientation toward exporting. The internet is creating new competitors in ways that could not have been imagined five years ago.