Question

You are writing a Request for Proposal (RFP) that you intend to send to a number of marketing strategy consulting firms around the country. You recognize that your company needs help in understanding and developing marketing strategy responses to the constantly changing dynamics in your marketing environment. Considering the evolving marketing dynamics, which aspect of the marketing environment should the selected consulting firm focus on?

1. Increasing multiculturalism
2. More women in the workforce
3. Women delaying marriage and having fewer children
4. 'Aging' of the population
5. More single-person households
6. More convenience-oriented consumers
7. More health-conscious consumers
8. More concern about the environment

Answer 1

The consulting firm should focus on the aging population, health-consciousness, and environmental concerns, as well as possess digital marketing and global market understanding due to shifts in technology and globalization. The correct options are 4, 7 and 8.

Step-by-step explanation:

Considering the evolving marketing dynamics, the selected consulting firm should focus on aspects that reflect the key shifts in technology and globalization. The firm needs to focus on the changing composition of the global population, which entails a rise in the proportion of elderly citizens, represented by the 'aging' of the population, changes indicating more health-conscious consumers, and an increase in environmental concerns.

Changes in the population have led to shifts in demand for products and services tailored to different age groups. An increase in the proportion of elderly citizens suggests a greater need for goods such as nursing homes and hearing aids. The growth in environmental concerns indicates that consumers are more attentive to sustainable and eco-friendly practices.

Furthermore, the advances in technology and globalization mean that a firm should also possess strong competencies in navigating digital marketing strategies and understanding international market dynamics. Business-to-business (B2B) digital platforms and communications technologies have significantly altered the landscape, offering new opportunities and challenges in reaching customers and competing globally.

Hence, Options 4,7 and 8 are correct.