3Socio Cultural Factors
Socio-Cultural Factors
Explain what is meant by “socio-cultural factors” in the external environment?
Socio-cultural factors in the external environment is the factors bases on society and cultures that affecting the business or the markets. Socio-cultural factors such as education, lifestyle trends, population and so on, may influence customers’ behavior or attitude to the product. For example, if the population of greybeard is increasing, then the demand of rest home will be increase as well. Normally, when people are young, they never think about to live in rest home. But they will change their attitude when they were getting older and older.
Which socio-cultural factors are relevant to your company’s industry?
First of all, population trend is relevant to the industry (food/dessert). “According to OECD/World Bank the population in Canada increased from 1990 to 2008 with 5.6 million and 20.4% growth in population. According to the OECD/World Bank population statistics from 1990 to 2008, the world population growth was 27% and 1,423 million people.” (“Demographics of Canada,” n.d.,” Population growth rates”) This is very important for the dessert industry if the population is increasing. Population increases will cause the demand of food or dessert also increase, so the company will have more potential customers.
Second, healthy lifestyle trend is relevant to the industry as well. The health and wellness food market has seen particularly significant growth in recent years in both developed and emerging markets. Many consumers across the globe are receiving "healthy eating" messages from governments and industries, stressing the importance of maintaining a healthy lifestyle. (Health and Wellness Trends for Canada and the World, October 2011) This means more and more customers care more about their eating habit and ingredients of the food, especially women and children. Although Ben & Jerry’s doesn’t use all of natural ingredients for their products, it still
Explain what is meant by “socio-cultural factors” in the external environment?
Socio-cultural factors in the external environment is the factors bases on society and cultures that affecting the business or the markets. Socio-cultural factors such as education, lifestyle trends, population and so on, may influence customers’ behavior or attitude to the product. For example, if the population of greybeard is increasing, then the demand of rest home will be increase as well. Normally, when people are young, they never think about to live in rest home. But they will change their attitude when they were getting older and older.
Which socio-cultural factors are relevant to your company’s industry?
First of all, population trend is relevant to the industry (food/dessert). “According to OECD/World Bank the population in Canada increased from 1990 to 2008 with 5.6 million and 20.4% growth in population. According to the OECD/World Bank population statistics from 1990 to 2008, the world population growth was 27% and 1,423 million people.” (“Demographics of Canada,” n.d.,” Population growth rates”) This is very important for the dessert industry if the population is increasing. Population increases will cause the demand of food or dessert also increase, so the company will have more potential customers.
Second, healthy lifestyle trend is relevant to the industry as well. The health and wellness food market has seen particularly significant growth in recent years in both developed and emerging markets. Many consumers across the globe are receiving "healthy eating" messages from governments and industries, stressing the importance of maintaining a healthy lifestyle. (Health and Wellness Trends for Canada and the World, October 2011) This means more and more customers care more about their eating habit and ingredients of the food, especially women and children. Although Ben & Jerry’s doesn’t use all of natural ingredients for their products, it still