keting environment 119 MARKETING APPLICATIONS 1. Assume you are going to open a new shop selling fitness products. Describe it. Who are your competitors? What would you do to monitor your competitors' actions? Who are your customers? What are you going to do to appeal to them? What are your social responsibilities and how will you meet them? 2. In which generational cohort do you belong? What about your parents? How do you approach buying a computer differently from how your parents would? What about buying an outfit to wear to a party? How can firms use their knowledge of generational cohorts to market their goods and services better? 3. How can firms use customer demographics like income, market size, education and ethnicity to market to their customers better? 4. Identify some of the ethnicity changes in Australia. Describe how they might affect the marketing practices of (a) a radio station in Perth, (b) food retailers in cities and (c) a home furnishing store in Melbourne. 5. Identify some recent technological innovations in the marketplace and describe how they have affected consumers' everyday activities. 6. Why should a T-shirt shop in Australia care about the value of the Hong Kong dollar? 7. Time-poor consumers have adopted various approaches to 'buy' themselves more time, such as (a) voluntarily simplifying their complex lives, (b) using new technologies for greater empowerment and control, (c) using their time productively when travelling or commuting and (d) multi-tasking. Identify and describe some goods and services that consumers use to implement each of these strategies. 8. Identify a company that you believe does a particularly good job of marketing to different cultural groups. Justify your