Marketing: Economics and Wireless Headset Translator Essay

Submitted By Sunny-Zou
Words: 786
Pages: 4

When marketing our wireless headset translator, six macro environment factors, such as demographic, economic, natural, technological, political, social and cultural environments must be taken into consideration.

Demographic forces
In recent, there are more than 59 percent people who have university diplomas in Canada [1]. Those well-educated people require more quality products that can help them in study and work lives. Moreover, the diversity of population is a purchasing power, for people who come from different countries will feel much more convenient to communicate through this product. Montreal for example, as a fashion capital and the most romantic city in Canada, has approximately 7.4 million tourists every year. [2] College students, tourists and immigrants are three main parts of our targets. Canada, as a great country of immigration, has tremendous opportunities for us to market our product.

Economic forces
The economic environment is another important factor that directly influences consumers’ incomes and the way people spend their money. With the rapidly growing economy in recent years, Canadian wages level has raised, consumers engaged in a consumption spree. According to UNWTO, the number of tourism increases each year. Since it’s impossible to learn every language before visiting different places, the wireless headset translator will help people to better communicate with the natives. People won’t be scared of being in an unfamiliar place anymore. Furthermore, in the era of economic globalization, business people need to know more about local culture and custom, it is language an important channel.

Natural forces The only natural resources we need are rubber trees, which are widely distributed all around the world, more than 40 countries and districts [3]. Those countries that have the largest rubber tree planting areas are Indonesia, which are Thailand, Malaysia, as well as Sri Lanka and India. They occupy up to 90 percent of the total planting acreage and latex yield in the world. And the latex yields are sufficient for us to continually exploit and apply. Furthermore, our product is totally eco-friendly; thus, there is no need to worry about the environmental sustainability.

Technological forces
The twenty-first century is the information, knowledge and technological innovation century. Internet and cell phones have become an essential part of people’s work and lives, and the widespread use of Internet makes world seems smaller, which makes our product functional and helpful. The wireless headset translator is designed based on today’s technological environment. All we need is an app on a smart phone and a headset. We are adopting Bluetooth technology in our earpiece, and the speech recognition system and Text-to-Speech system in our app. It’s simple to set and no need to carry any devices. Our product also appeals to human’s needs of communication, even the people who come from whole different areas. All the competitive advantages will make our product does well in the market.

Political forces There are two official languages in Canada and only French official in Quebec; therefore, we should deliberate when we design the label and advertising, according to National Trade-mark and True Labelling Act. Consumer Packaging and Labelling Act should be respected as well, which means we must provide