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MKTG 201 > 2a- Marketing Environment > Flashcards

2a- Marketing Environment Flashcards

1
Q

SWOT Analysis

Environment

A
  • provides direction for competing
  • Internal: Strengths and Weaknesses
  • External: Opportunities and Threats
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2
Q

External Environment

Environment

A
  • uncontrollable forces

- Social, Economic, Technological, Competitive

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3
Q

Social Forces

Environment

A
  • affects attitudes, beliefs and lifestyle
  • influence what, where, how, quantity, and when
  • Culture and Demographics
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4
Q

Culture Forces

Environment

A

country, religion, community

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5
Q

Demographics Forces

Environment

A

age, race, gender, etc

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6
Q

Generational Cohorts

Environment

A

People born during the same time period who share common life experiences

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7
Q

Greatest Generation

Generational Cohorts

A

1901 - 1927

91 and older

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8
Q

Silent Generation

Generational Cohorts

A

1928 - 1945

73 - 90

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9
Q

Baby Boomers

Generational Cohorts

A

1946 - 1964

54 - 72

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10
Q

Generation X

Generational Cohorts

A

1965 - 1980

38 - 53

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11
Q

Generation Y / Millennials

Generational Cohorts

A

1981 - 1996

22 - 37

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12
Q

Generation Z

Generational Cohorts

A

1997 - today

21 and younger

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13
Q

Economic Forces

Environment

A

economy affects spending

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14
Q

Technological Forces

Environment

A

automation, application of science and research to be more efficient

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15
Q

Competitive Forces

Environment

A
  • attractiveness of an industry

- Porter’s 5 Forces Model

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16
Q

Porter’s 5 Forces Model

Environment

A

Competitive Rivalry, Power of Buyers and Sellers, Threat of Substitutes and Entrants

17
Q 
Competitive Rivalry
(Porter's Model)
A

-coke v. pepsi

18
Q

Power of Buyer

Porter’s Model

A

-wireless charging

19
Q

Power of Seller

Porter’s Model

A

-boeing and airbus have complete power

20
Q

Threat of Substitute

Porter’s Model

A

-smartphones v. camera

21
Q

Threat of Entrants

Porter’s Model

A

-uber v. taxis

22
Q

Regulatory Forces

Environment

A

protect consumers and businesses, ensures safety

23
Q

Gross Income

Environment

A

total amount of money (before taxes)

24
Q

Disposable Income

Environment

A

necessities: food, housing, clothing, transportation

25
Q

Discretionary Income

Environment

A

left over money: luxury products and services

26
Q

Strengths

SWOT

A

internal, PLAY TO

competencies and abilities

27
Q

Weaknesses

SWOT

A

internal, MODERATE

limitations

28
Q

Opportunities

SWOT

A

external, EXPLOIT

favorable conditions

29
Q

Threats

SWOT

A

external, MINIMIZE

conditions, trends, and barriers that hinder

MKTG 201 (14 decks)

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