
Long questions with answers for this topic
Socio-cultural environment includes social forces like culture, values, beliefs, customs and lifestyle that influence consumer behaviour and demand.
Demographic environment refers to population characteristics like size, age, gender, income, education and location that affect market demand.
Culture is the set of shared values, beliefs, customs and traditions of a society that guides behaviour.
Demographic segmentation divides the market based on variables like age, gender, income, education and occupation.
Example: health consciousness increasing demand for low-sugar/organic foods and fitness products.
Example: age (youth/adult/senior).
Socio-cultural environment includes culture, values and lifestyle patterns that shape buying behaviour.
Importance (any three):
Hence, firms must adapt products and marketing to social changes.
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