Consumer profiling and macroeconomic trends

All consumers are heavily influenced by external environmental changes. This week you will consider the four main macroeconomic trends facing society, as defined by Sala-i-Martin (2017) via the World Economic Forum, and how these will potentially influence the consumer profiles and behaviour of yourself and others. The four macroeconomic trends are as follows:

  • The Productivity Paradox
  • The Fourth Industrial Revolution
  • Growing Income Inequality
  • A Massive Increase in the Working Population

Sala-i-Martin (2017) ://

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To prepare for this submission:

  • Consider how influential each of the global macroeconomic trends are likely to be on consumer behaviour.
  • Evaluate if all of the macroeconomic trends will influence consumers equally or if some are more important than others.
  • Assess the importance of analysing changes in the global environment in creating a successful marketing strategy and making future predictions.

For the Submission:

  • Choose one macroeconomic trend and provide a reflective narrative as to how this will influence you as a consumer. You should consider your own consumer profile and which aspects are most susceptible to influence and change.
  • You should also consider how it will it influence consumers from different socio-economic or cultural backgrounds.
  • 1000s word reflective narrative, Turnitin

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