Question

Chapter 4: The demographic, social and cultural context of business

                                           

Answer all questions

1. Explain the notions of demography, social class, life styles, reference groups, culture and sub culture.

   Explain the important features of culture.

2. Outline the concept of market segmentation and demonstrate how marketing organizations

   can use demographic and socio – cultural variables to segment consumer markets.

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Follow the assignment guidelines: - (Introduction, Discussion, Suggestion, Conclusion

                                                              & Reference)

Answer 1

In the context of business, democracy plays a separate role in affecting the business of import and export.

Business is majorly influenced by social class as it may target a specific class.

Lifestyle and trend over a place cause boost or decline the business as some products may sell in because it is in the people's lifestyle.

Reference groups play a crucial role as these groups are more affected by the confidence of their known over that business or product.

Cultural difference enters an organization as people come from different backgrounds beliefs religion thinking, but work under one roof may hamper the business operation and need to look.

Subculture creates a distinction that makes a variety of beliefs exist, which makes carrying out business easy.

Features of culture:

1 It is learned about in-depth and accepted by the people widely.

2 Values binds the culture.

3 Habits at work defines culture

4 Combination of many aspects.

5 Super dynamic behavior.

Market segmentation is creating a boundary for customers based on some standard features of their behavior. It shows the targeted customers that need specific services and products.

Democratic can help segment the customers with the help of democratic boundaries that help in smooth functioning and promotion.

Socio - culture helps give exposure to an extensive and substantial large amount of markets where its easy to run business.